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

Phillips Edison & Company, Inc. (NASDAQ:PECO) will be posting its quarterly earnings results after the market closes on Thursday, October 24th. Analysts expect Phillips Edison & Company, Inc. to post 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.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). The business had revenue of $161.52 million during the quarter, compared to analysts’ expectations of $156.29 million. Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. 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. Price Performance

Phillips Edison & Company, Inc. stock opened at $37.26 on Thursday. The stock has a market capitalization of $4.56 billion, a PE ratio of 81.00, a price-to-earnings-growth ratio of 3.43 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $39.08. The business has a 50 day simple moving average of $36.79 and a 200-day simple moving average of $34.34.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a $0.1025 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.30%. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.

Analyst Ratings Changes

A number of research firms have recently commented on PECO. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Compass Point lifted their price target 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. Finally, Mizuho lifted their price target on 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.