PHINIA (NYSE:PHIN) Issues Quarterly Earnings Results, Beats Estimates By $0.38 EPS

PHINIA (NYSE:PHIN - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.38, Briefing.com reports. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The business had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. During the same quarter last year, the company earned $0.53 earnings per share. The business's revenue for the quarter was down 6.4% compared to the same quarter last year. PHINIA updated its FY 2024 guidance to EPS.

PHINIA Trading Down 1.5 %

Shares of PHINIA stock traded down $0.68 during trading hours on Friday, reaching $45.90. The stock had a trading volume of 525,547 shares, compared to its average volume of 351,184. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 19.70 and a beta of 0.86. PHINIA has a 1 year low of $23.46 and a 1 year high of $52.19. The company has a current ratio of 1.93, a quick ratio of 1.38 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $46.43 and a two-hundred day simple moving average of $43.84.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PHIN shares. UBS Group started coverage on shares of PHINIA in a research note on Wednesday, September 4th. They set a "buy" rating and a $55.00 price objective on the stock. 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 report on Wednesday, September 25th.

Insider Transactions at PHINIA

In related news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction on Wednesday, August 28th. The shares were 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company's stock.

PHINIA Company Profile

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.