Phillips Edison & Company, Inc. (NASDAQ:PECO) Expected to Post Quarterly Sales of $138.25 Million

Posted by on Jun 8th, 2022

Equities analysts expect Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) to post $138.25 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Phillips Edison & Company, Inc.’s earnings, with the lowest sales estimate coming in at $131.54 million and the highest estimate coming in at $142.45 million. Phillips Edison & Company, Inc. posted sales of $133.07 million during the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The firm is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Phillips Edison & Company, Inc. will report full year sales of $558.13 million for the current year, with estimates ranging from $530.08 million to $579.55 million. For the next fiscal year, analysts forecast that the firm will report sales of $583.89 million, with estimates ranging from $552.85 million to $626.21 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow Phillips Edison & Company, Inc..

Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) last released its earnings results on Thursday, May 5th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.41). Phillips Edison & Company, Inc. had a net margin of 4.61% and a return on equity of 1.06%.

Several brokerages have commented on PECO. Morgan Stanley cut shares of Phillips Edison & Company, Inc. from an “overweight” rating to an “equal weight” rating and set a $37.00 price target on the stock. in a research note on Wednesday, March 9th. Mizuho boosted their price target on shares of Phillips Edison & Company, Inc. from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, February 15th. Wells Fargo & Company boosted their price target on shares of Phillips Edison & Company, Inc. from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 7th. Compass Point initiated coverage on shares of Phillips Edison & Company, Inc. in a report on Friday, April 22nd. They issued a “neutral” rating and a $36.50 target price on the stock. Finally, Zacks Investment Research downgraded shares of Phillips Edison & Company, Inc. from a “buy” rating to a “hold” rating in a report on Thursday, May 19th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and an average price target of $34.50.

Hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC lifted its position in shares of Phillips Edison & Company, Inc. by 14.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,980 shares of the company’s stock worth $98,000 after purchasing an additional 375 shares during the period. Koshinski Asset Management Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 4.6% in the 4th quarter. Koshinski Asset Management Inc. now owns 11,450 shares of the company’s stock worth $378,000 after purchasing an additional 500 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Phillips Edison & Company, Inc. by 3.5% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 20,800 shares of the company’s stock worth $715,000 after purchasing an additional 700 shares during the period. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Phillips Edison & Company, Inc. in the 1st quarter worth approximately $25,000. Finally, Creative Financial Designs Inc. ADV purchased a new stake in shares of Phillips Edison & Company, Inc. in the 1st quarter worth approximately $25,000. Institutional investors and hedge funds own 36.58% of the company’s stock.

PECO opened at $34.30 on Wednesday. Phillips Edison & Company, Inc. has a fifty-two week low of $26.51 and a fifty-two week high of $36.35. The firm’s fifty day moving average is $34.27 and its 200 day moving average is $33.17. The stock has a market cap of $3.89 billion and a price-to-earnings ratio of 149.13.

The business also recently announced a monthly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 15th will be paid a $0.09 dividend. The ex-dividend date is Thursday, July 14th. This represents a $1.08 dividend on an annualized basis and a yield of 3.15%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 469.57%.

About Phillips Edison & Company, Inc. (Get Rating)

Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.

Further Reading

Get a free copy of the Zacks research report on Phillips Edison & Company, Inc. (PECO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Phillips Edison & Company, Inc. (NASDAQ:PECO)

Want More Great Investing Ideas?

Receive News & Ratings for Phillips Edison & Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips Edison & Company Inc. and related companies with MarketBeat.com's FREE daily email newsletter.