PHINIA (NYSE:PHIN) Issues Earnings Results

PHINIA (NYSE:PHIN) issued its quarterly earnings results on Thursday. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.38, Briefing.com reports. The company had revenue of $839.00 million during the quarter, compared to analyst estimates of $829.82 million. PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. PHINIA updated its FY 2024 guidance to EPS.

PHINIA Trading Down 1.5 %

Shares of NYSE:PHIN traded down $0.68 during midday trading on Friday, hitting $45.90. The company had a trading volume of 525,547 shares, compared to its average volume of 653,763. The company has a current ratio of 1.85, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. PHINIA has a 12 month low of $23.46 and a 12 month high of $52.19. The firm has a fifty day simple moving average of $46.43 and a 200 day simple moving average of $43.84. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 19.70 and a beta of 0.85.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PHIN. Morgan Stanley downgraded shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a report on Wednesday, September 25th. UBS Group initiated coverage on PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price objective for the company.

Insider Activity at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total transaction of $42,939.00. Following the transaction, the vice president now owns 29,540 shares in the company, valued at approximately $1,409,353.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

About PHINIA

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments.