Phillips Edison & Company, Inc. (PECO) Set to Announce Quarterly Earnings on Thursday

Phillips Edison & Company, Inc. (NASDAQ:PECO) is scheduled to announce its earnings results after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $0.61 per share for the quarter. Phillips Edison & Company, Inc. has set its FY24 guidance at $2.37-2.45 EPS and its FY 2024 guidance at 0.490-0.540 EPS.Investors that wish to register for the company’s conference call can do so using this link.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The company 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 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts expect Phillips Edison & Company, Inc. to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO opened at $37.26 on Thursday. The stock’s fifty day moving average is $36.79 and its 200 day moving average is $34.34. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.08. The firm has a market capitalization of $4.56 billion, a PE ratio of 81.00, a PEG ratio of 3.43 and a beta of 0.57.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.30%. The ex-dividend date is Tuesday, October 15th. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.39%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Compass Point increased their target price on 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 raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Mizuho raised their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $37.50.

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.