Dana (NYSE:DAN) Updates FY24 Earnings Guidance

Dana (NYSE:DAN) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $0.75-0.95 for the period, compared to the consensus EPS estimate of $0.91. The company issued revenue guidance of $10.2-10.4 billion, compared to the consensus revenue estimate of $10.55 billion. Dana also updated its FY 2024 guidance to 0.750-0.950 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Dana in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Wells Fargo & Company decreased their price target on shares of Dana from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday. UBS Group cut their price objective on Dana from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. StockNews.com cut Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Dana from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $12.83.

Dana Stock Up 3.1 %

NYSE:DAN traded up $0.24 during mid-day trading on Friday, reaching $7.91. The company’s stock had a trading volume of 2,566,476 shares, compared to its average volume of 1,371,853. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 1.58. Dana has a 1 year low of $7.63 and a 1 year high of $15.07. The stock has a fifty day moving average of $10.43 and a 200-day moving average of $11.73. The firm has a market capitalization of $1.15 billion, a PE ratio of -69.68, a price-to-earnings-growth ratio of 0.50 and a beta of 2.28.

Dana (NYSE:DAN) last announced its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.13). The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. Dana’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. Equities research analysts forecast that Dana will post 0.94 earnings per share for the current year.

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 paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.40 annualized dividend and a yield of 5.06%. Dana’s dividend payout ratio (DPR) is presently -363.60%.

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.