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

Phillips Edison & Company, Inc. (NASDAQ:PECO) will be issuing its quarterly earnings data 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 interested in listening to the company’s 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $161.52 million for the quarter, compared to analyst estimates of $156.29 million. During the same quarter in the previous year, the firm posted $0.59 EPS. Phillips Edison & Company, Inc.’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. Price Performance

Shares of PECO opened at $36.89 on Wednesday. The company has a 50-day moving average of $36.93 and a two-hundred day moving average of $34.39. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 78.49, a PEG ratio of 3.53 and a beta of 0.57. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $39.08.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.33%. This is a boost 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 payout ratio is presently 261.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PECO shares. Mizuho increased their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Compass Point increased their price objective 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, Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. 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, the company currently has a consensus rating of “Hold” and an average price target of $37.50.

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.