Phillips Edison & Company, Inc. (NASDAQ:PECO) Releases FY 2024 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.480-0.500 for the period, compared to the consensus earnings per share estimate of 0.450. The company issued revenue guidance of -. Phillips Edison & Company, Inc. also updated its FY 2025 guidance to 0.540-0.590 EPS.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Mizuho boosted their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Compass Point upped their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 10th. Finally, Wolfe Research raised shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 price target for the company in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ PECO traded down $0.66 during mid-day trading on Thursday, hitting $37.55. The company's stock had a trading volume of 886,811 shares, compared to its average volume of 671,888. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $40.12. The company's fifty day simple moving average is $38.42 and its 200-day simple moving average is $36.16. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 81.63, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The business had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. The company's quarterly revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be paid a dividend of $0.1025 per share. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Phillips Edison & Company, Inc.'s previous dividend of $0.10. This represents a dividend yield of 3.13%. Phillips Edison & Company, Inc.'s payout ratio is 267.39%.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.