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

Phillips Edison & Company, Inc. (NASDAQ:PECO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.480-0.500 for the period, compared to the consensus 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.

Phillips Edison & Company, Inc. Stock Performance

PECO traded up $0.16 during trading on Thursday, hitting $38.37. The stock had a trading volume of 139,611 shares, compared to its average volume of 668,709. The firm has a market capitalization of $4.70 billion, a P/E ratio of 83.41, a PEG ratio of 3.60 and a beta of 0.57. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The company’s 50-day moving average price is $38.39 and its 200 day moving average price is $36.15.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). The business had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. Phillips Edison & Company, Inc.’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 EPS. As a group, equities analysts expect that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a $0.1025 dividend. This represents a dividend yield of 3.13%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

Analyst Ratings Changes

Several research analysts have weighed in on PECO shares. Mizuho upped 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 report on Tuesday, December 10th. Compass Point increased their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. 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 on the stock in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

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.