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

PHINIA Inc. (NYSE:PHIN) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Stockholders 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 dividend payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

NYSE:PHIN 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 debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. The firm’s 50-day simple moving average is $47.86 and its 200 day simple moving average is $45.17. The firm has a market cap of $2.32 billion, a price-to-earnings 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, topping the consensus estimate of $0.79 by $0.38. The company had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. As a group, sell-side analysts predict that PHINIA will post 3.44 earnings per share for the current year.

Insider Buying and Selling

In other PHINIA news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the sale, the vice president now directly owns 29,540 shares in the company, 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 SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.