Dana (NYSE:DAN) Issues Quarterly Earnings Results

Dana (NYSE:DAN) released its quarterly earnings results on Wednesday. The auto parts company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.13), Briefing.com reports. Dana had a negative net margin of 0.15% and a positive return on equity of 3.48%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter last year, the company earned $0.30 EPS. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. Dana updated its FY 2024 guidance to 0.750-0.950 EPS and its FY24 guidance to $0.75-0.95 EPS.

Dana Price Performance

Shares of DAN stock traded up $0.24 during midday trading on Friday, reaching $7.91. 2,566,720 shares of the company traded hands, compared to its average volume of 1,371,853. The firm’s 50 day simple moving average is $10.37 and its two-hundred day simple moving average is $11.71. The firm has a market cap of $1.15 billion, a PE ratio of -71.90, a price-to-earnings-growth ratio of 0.50 and a beta of 2.28. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.49 and a quick ratio of 0.90. Dana has a 1-year low of $7.63 and a 1-year high of $15.07.

Dana Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 8th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, November 8th. This represents a $0.40 annualized dividend and a yield of 5.06%. Dana’s payout ratio is currently -363.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DAN shares. Barclays cut their price target on Dana from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $12.00 target price on shares of Dana in a research note on Tuesday, September 10th. UBS Group dropped their price target on shares of Dana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Wells Fargo & Company reduced their price objective on shares of Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective on Dana from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Dana presently has an average rating of “Hold” and an average price target of $12.83.

About Dana

Dana Incorporated, together with its subsidiaries, provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. The company operates through four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.