Dana (NYSE:DAN) Issues FY24 Earnings Guidance

Dana (NYSE:DAN) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

Dana Stock Performance

Dana stock traded up $0.24 during trading hours on Friday, hitting $7.91. 2,566,476 shares of the stock traded hands, compared to its average volume of 1,371,853. The firm’s 50 day moving average price is $10.43 and its 200-day moving average price is $11.73. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.49 and a quick ratio of 0.90. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -69.68, a P/E/G ratio of 0.50 and a beta of 2.28. Dana has a 1 year low of $7.63 and a 1 year high of $15.07.

Dana (NYSE:DAN) last issued 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). Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the company posted $0.30 EPS. Dana’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts expect that Dana will post 0.94 EPS for the current fiscal year.

Dana Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 8th will be given a $0.10 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.06%. Dana’s dividend payout ratio (DPR) is currently -363.60%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Barclays reduced their target price on Dana from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday. UBS Group decreased 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $12.00 target price on shares of Dana in a research report on Tuesday, September 10th. Wolfe Research assumed coverage on shares of Dana in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Dana from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.83.

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.