PHINIA (NYSE:PHIN) Trading Down 14.6% on Disappointing Earnings

PHINIA Inc. (NYSE:PHIN)’s share price fell 14.6% during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $71.11 and last traded at $70.1130. Approximately 106,090 shares changed hands during trading, a decline of 72% from the average session volume of 385,336 shares. The stock had previously closed at $82.13.

The company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.05). PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The business had revenue of $940.00 million during the quarter, compared to the consensus estimate of $918.83 million.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Tuesday, June 9th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, June 9th. PHINIA’s dividend payout ratio (DPR) is presently 33.52%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. KeyCorp initiated coverage on PHINIA in a report on Friday, June 12th. They set an “overweight” rating and a $105.00 target price for the company. Weiss Ratings upgraded PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Zacks Research cut PHINIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, UBS Group raised their price objective on PHINIA from $76.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.67.

Insider Activity at PHINIA

In related news, VP Michael Coetzee sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total transaction of $100,762.50. Following the completion of the transaction, the vice president owned 27,009 shares in the company, valued at $2,177,195.49. The trade was a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Samantha Pombier sold 2,227 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total transaction of $183,415.72. Following the completion of the sale, the vice president owned 6,637 shares of the company’s stock, valued at approximately $546,623.32. This trade represents a 25.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.20% of the company’s stock.

Institutional Trading of PHINIA

Institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC grew its stake in PHINIA by 1.9% during the 4th quarter. ProShare Advisors LLC now owns 7,409 shares of the company’s stock worth $464,000 after buying an additional 141 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV increased its position in PHINIA by 2.7% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 5,816 shares of the company’s stock valued at $365,000 after buying an additional 155 shares in the last quarter. Baron Wealth Management LLC raised its stake in PHINIA by 3.7% in the second quarter. Baron Wealth Management LLC now owns 4,542 shares of the company’s stock valued at $374,000 after buying an additional 160 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in PHINIA by 2.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,748 shares of the company’s stock valued at $548,000 after buying an additional 207 shares during the last quarter. Finally, Old North State Wealth Management LLC boosted its holdings in PHINIA by 2.5% in the fourth quarter. Old North State Wealth Management LLC now owns 10,253 shares of the company’s stock worth $643,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.82 and a quick ratio of 1.32. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 20.06 and a beta of 1.13. The firm has a fifty day simple moving average of $79.49 and a two-hundred day simple moving average of $74.28.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.