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

Phillips Edison & Company, Inc. (NASDAQ:PECO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.480-0.500 for the period, compared to the consensus estimate of 0.450. The company issued revenue guidance of -. Phillips Edison & Company, Inc. also updated its FY 2025 guidance to 0.540-0.590 EPS.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PECO. Mizuho increased their target price on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Compass Point lifted their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ PECO traded up $0.16 during trading hours on Thursday, hitting $38.37. The company had a trading volume of 139,611 shares, compared to its average volume of 668,709. The business has a 50 day moving average of $38.39 and a 200-day moving average of $36.15. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The company has a market cap of $4.70 billion, a PE ratio of 83.41, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). The firm had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. Phillips Edison & Company, Inc.’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. Sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.1025 per share. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. This represents a yield of 3.13%. The ex-dividend date is Monday, December 16th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 267.39%.

About Phillips Edison & Company, Inc.

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.