PHINIA Inc. (NYSE:PHIN – Get Free Report) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Shareholders of record on Friday, May 24th will be paid a dividend of 0.25 per share on Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, May 23rd.
PHINIA has a payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PHINIA to earn $4.82 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 20.7%.
PHINIA Stock Performance
Shares of PHIN opened at $44.58 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.27 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $39.57 and a 200-day moving average price of $33.02. PHINIA has a 12-month low of $23.46 and a 12-month high of $46.08.
Wall Street Analysts Forecast Growth
Separately, Morgan Stanley started coverage on PHINIA in a research note on Monday, March 11th. They issued an “overweight” rating and a $50.00 target price on the stock.
Read Our Latest Stock Analysis 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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