Dana Incorporated (NYSE:DAN) to Issue Quarterly Dividend of $0.10

Dana Incorporated (NYSE:DAN) announced a quarterly dividend on Wednesday, July 24th, NASDAQ reports. Investors of record on Friday, August 9th will be given a dividend of 0.10 per share by the auto parts company on Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, August 9th.

Dana has increased its dividend payment by an average of 58.7% per year over the last three years. Dana has a dividend payout ratio of 27.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Dana to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 19.0%.

Dana Stock Performance

NYSE:DAN traded down $0.01 during trading hours on Thursday, reaching $11.79. The stock had a trading volume of 2,256,148 shares, compared to its average volume of 1,216,930. The stock has a market cap of $1.71 billion, a P/E ratio of 129.79 and a beta of 2.33. The stock has a 50 day simple moving average of $12.80 and a 200 day simple moving average of $12.83. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.97 and a current ratio of 1.60. Dana has a 12-month low of $11.10 and a 12-month high of $19.75.

Dana (NYSE:DAN) last announced its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Dana had a return on equity of 5.42% and a net margin of 0.12%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. On average, research analysts forecast that Dana will post 0.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on DAN. UBS Group lowered their target price on shares of Dana from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut their target price on Dana from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company decreased their price target on Dana from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 25th. Finally, Oppenheimer raised their price objective on shares of Dana from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.50.

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.