PHINIA Inc. (NYSE:PHIN) Declares Dividend Increase - $0.27 Per Share

PHINIA Inc. (NYSE:PHIN - Get Free Report) declared a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.27 per share on Friday, March 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, February 28th. This is a boost from PHINIA's previous quarterly dividend of $0.25.

PHINIA has a dividend payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PHINIA to earn $4.45 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 22.5%.

PHINIA Price Performance

Shares of NYSE PHIN traded up $0.47 during mid-day trading on Tuesday, reaching $52.21. The company's stock had a trading volume of 214,082 shares, compared to its average volume of 408,896. The firm has a market capitalization of $2.20 billion, a PE ratio of 22.44 and a beta of 1.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. The stock has a fifty day moving average of $49.79 and a two-hundred day moving average of $48.61. PHINIA has a 52 week low of $31.26 and a 52 week high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The firm had revenue of $833.00 million during the quarter, compared to analysts' expectations of $811.94 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. As a group, sell-side analysts anticipate that PHINIA will post 3.78 EPS for the current fiscal year.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PHIN shares. UBS Group boosted their target price on PHINIA from $55.00 to $57.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Northland Securities started coverage on PHINIA in a research report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 target price on the stock. Finally, Northland Capmk upgraded PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th.

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.