Dana (NYSE:DAN – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.75-0.95 for the period, compared to the consensus 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 analysts have recently issued reports on DAN shares. StockNews.com lowered Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Barclays decreased their target price on Dana from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of Dana from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Wolfe Research started coverage on shares of Dana in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Dana has a consensus rating of “Hold” and an average price target of $12.83.
Get Our Latest Analysis on Dana
Dana Trading Up 3.1 %
Dana (NYSE:DAN – Get Free Report) 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 negative net margin of 0.15% and a positive return on equity of 3.48%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the company posted $0.30 EPS. The company’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, research analysts expect that Dana will post 0.94 earnings per share for the current year.
Dana Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 8th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Friday, November 8th. Dana’s dividend payout ratio (DPR) is -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.
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