PHINIA (NYSE:PHIN) Announces Earnings Results

PHINIA (NYSE:PHIN) issued its earnings results on Thursday. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.38, Briefing.com reports. The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $829.82 million. PHINIA had a return on equity of 8.04% and a net margin of 2.48%. PHINIA’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. PHINIA updated its FY 2024 guidance to EPS.

PHINIA Price Performance

PHIN stock traded down $0.68 during trading hours on Friday, hitting $45.90. 525,547 shares of the stock traded hands, compared to its average volume of 653,763. The company has a current ratio of 1.85, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $46.43 and a 200 day simple moving average of $43.84. PHINIA has a one year low of $23.46 and a one year high of $52.19. The company has a market cap of $2.00 billion, a P/E ratio of 19.70 and a beta of 0.85.

Analyst Ratings Changes

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

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by corporate insiders.

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.