Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.40-$2.44 for the period, compared to the consensus earnings per share estimate of $2.40. Phillips Edison & Company, Inc. also updated its FY 2024 guidance to 0.480-0.500 EPS.
Phillips Edison & Company, Inc. Price Performance
PECO traded down $0.70 on Friday, reaching $36.31. 629,406 shares of the company traded hands, compared to its average volume of 662,030. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $39.08. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 78.75, a PEG ratio of 3.49 and a beta of 0.57. The stock’s 50 day moving average price is $37.07 and its 200-day moving average price is $34.45.
Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.12 EPS 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 firm had revenue of $161.52 million during the quarter, compared to the consensus estimate of $156.29 million. During the same period in the previous year, the firm posted $0.59 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.
Phillips Edison & Company, Inc. Increases Dividend
Analyst Ratings Changes
Several research analysts have commented on the company. 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 report on Monday, August 19th. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Compass Point increased their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. has a consensus rating of “Hold” and a consensus target price of $37.50.
Check Out Our Latest Stock Report on PECO
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.
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