PHINIA Inc. (NYSE:PHIN) to Issue $0.25 Quarterly Dividend

PHINIA Inc. (NYSE:PHIN) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Shareholders of record on Monday, November 25th will be given a dividend of 0.25 per share on Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Monday, November 25th.

PHINIA has a payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PHINIA to earn $4.00 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.0%.

PHINIA Stock Performance

Shares of PHINIA stock opened at $55.06 on Friday. PHINIA has a 52 week low of $25.19 and a 52 week high of $55.54. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $47.86 and a 200-day moving average price of $45.17. The company has a market cap of $2.32 billion, a PE ratio of 23.63 and a beta of 0.86.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.79 by $0.38. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $829.82 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities analysts anticipate that PHINIA will post 3.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on PHIN shares. Morgan Stanley downgraded PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a research note on Wednesday, September 25th. UBS Group assumed coverage on PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price for the company.

Insiders Place Their Bets

In other news, VP Michael Coetzee sold 900 shares of the business’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 completion of the transaction, the vice president now owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

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.