Dana (NYSE:DAN) Announces Earnings Results

Dana (NYSE:DAN) released its quarterly earnings data on Wednesday. The auto parts company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.13), Briefing.com reports. Dana had a positive return on equity of 4.98% and a negative net margin of 0.01%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the company posted $0.30 earnings per share. The company’s revenue 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 Stock Performance

Shares of NYSE DAN traded down $0.73 during midday trading on Thursday, reaching $7.66. 2,190,448 shares of the company were exchanged, compared to its average volume of 1,353,282. The stock has a market cap of $1.11 billion, a P/E ratio of -768.00, a PEG ratio of 0.62 and a beta of 2.28. Dana has a 1 year low of $7.63 and a 1 year high of $15.07. The stock has a fifty day simple moving average of $10.49 and a 200 day simple moving average of $11.76. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 1.55.

Dana Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 8th. This represents a $0.40 annualized dividend and a dividend yield of 5.22%. Dana’s dividend payout ratio (DPR) is -4,000.00%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DAN. JPMorgan Chase & Co. dropped their price target 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. Barclays dropped their target price on shares of Dana from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $12.00 price objective on shares of Dana in a research note on Tuesday, September 10th. Wolfe Research initiated coverage on Dana in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company downgraded Dana from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $13.00 to $9.00 in a report on Friday, September 20th. One 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 currently has an average rating of “Hold” and a consensus target price of $13.17.

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.