Dana (NYSE:DAN) Issues FY24 Earnings Guidance

Dana (NYSE:DAN) 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.

Dana Trading Up 3.1 %

NYSE:DAN traded up $0.24 during mid-day trading on Friday, hitting $7.91. 2,566,476 shares of the company’s stock were exchanged, compared to its average volume of 1,371,853. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 1.58. Dana has a fifty-two week low of $7.63 and a fifty-two week high of $15.07. The company has a 50 day simple moving average of $10.43 and a 200-day simple moving average of $11.73. The firm has a market capitalization of $1.15 billion, a P/E ratio of -69.68, a PEG ratio of 0.50 and a beta of 2.28.

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 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.