PHINIA Inc. (NYSE:PHIN – Get Free Report) announced a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Friday, May 24th will be given a dividend of 0.25 per share on Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, May 23rd.
PHINIA has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect PHINIA to earn $4.77 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 21.0%.
PHINIA Stock Performance
NYSE:PHIN opened at $43.67 on Friday. PHINIA has a twelve month low of $23.46 and a twelve month high of $43.69. The company has a quick ratio of 1.27, a current ratio of 1.71 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $38.26 and its two-hundred day moving average price is $32.03.
Analyst Upgrades and Downgrades
Separately, Morgan Stanley started coverage on PHINIA in a report on Monday, March 11th. They set an “overweight” rating and a $50.00 price target for the company.
Get Our Latest Report on PHINIA
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.
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