Dana (NYSE:DAN) Issues FY24 Earnings Guidance

Dana (NYSE:DAN) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.35-0.85 for the period, compared to the consensus earnings per share estimate of $0.87. The company issued revenue guidance of $10.65-11.15 billion, compared to the consensus revenue estimate of $10.89 billion. Dana also updated its FY 2024 guidance to 0.350-0.850 EPS.

Dana Stock Performance

Shares of NYSE:DAN traded down $0.25 during trading hours on Tuesday, hitting $12.37. The stock had a trading volume of 981,351 shares, compared to its average volume of 1,244,070. The stock’s fifty day simple moving average is $12.32 and its 200 day simple moving average is $12.98. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 48.58, a PEG ratio of 0.36 and a beta of 2.49. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.93 and a current ratio of 1.58. Dana has a 1-year low of $11.10 and a 1-year high of $19.75.

Dana (NYSE:DAN) last issued its quarterly earnings results on Tuesday, February 20th. The auto parts company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.58 billion. Dana had a net margin of 0.36% and a return on equity of 7.37%. Dana’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the business posted ($0.10) earnings per share. Sell-side analysts anticipate that Dana will post 0.99 earnings per share for the current fiscal year.

Dana Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 10th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Thursday, May 9th. Dana’s payout ratio is 153.85%.

Analysts Set New Price Targets

Several research firms have issued reports on DAN. Barclays cut their price objective on Dana from $16.00 to $15.00 and set an equal weight rating on the stock in a report on Wednesday, February 28th. JPMorgan Chase & Co. decreased their price objective on shares of Dana from $19.00 to $18.00 and set an overweight rating for the company in a research note on Monday, February 26th. Finally, Wells Fargo & Company cut their target price on shares of Dana from $14.00 to $13.00 and set an equal weight rating on the stock in a research note on Wednesday, February 21st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $16.43.

Dana Company Profile

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.