PHINIA Inc. (NYSE:PHIN) Raises Dividend to $0.27 Per Share

PHINIA Inc. (NYSE:PHIN) announced 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 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, February 28th. This is a positive change from PHINIA’s previous quarterly dividend of $0.25.

PHINIA has a payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Analysts expect PHINIA to earn $5.20 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 20.8%.

PHINIA Price Performance

PHINIA stock opened at $49.84 on Wednesday. The business has a 50 day simple moving average of $49.69 and a 200 day simple moving average of $49.00. PHINIA has a one year low of $33.50 and a one year high of $57.23. The company has a market capitalization of $2.03 billion, a PE ratio of 28.48 and a beta of 1.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm had revenue of $833.00 million for the quarter, compared to analyst estimates of $811.94 million. On average, sell-side analysts forecast that PHINIA will post 4.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PHIN shares. UBS Group lifted their target price on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Northland Securities began coverage on PHINIA in a research report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective for the company. Finally, Northland Capmk upgraded PHINIA to a “strong-buy” rating in a 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.