Phillips Edison & Company, Inc. (NASDAQ:PECO) Issues FY 2024 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.480-0.500 for the period, compared to the consensus EPS estimate of 0.510. The company issued revenue guidance of -. Phillips Edison & Company, Inc. also updated its FY24 guidance to $2.40-$2.44 EPS.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Compass Point boosted their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Finally, Mizuho boosted their price target on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.50.

Phillips Edison & Company, Inc. Price Performance

Shares of PECO stock remained flat at $37.01 during trading hours on Thursday. 566,954 shares of the company were exchanged, compared to its average volume of 553,168. The stock has a 50-day moving average price of $37.03 and a two-hundred day moving average price of $34.43. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.08. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 78.75, a P/E/G ratio of 3.49 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm had revenue of $161.52 million for the quarter, compared to analysts’ expectations of $156.29 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, research analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.32%. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, October 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 261.71%.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.