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.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. UBS Group lowered their target price on Dana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company downgraded shares of Dana from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $13.00 to $9.00 in a research report on Friday, September 20th. Barclays lowered their price objective on shares of Dana from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Finally, 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 report on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.50.

Dana Trading Down 14.9 %

Shares of NYSE:DAN traded down $1.51 during midday trading on Wednesday, hitting $8.63. 1,835,001 shares of the stock traded hands, compared to its average volume of 1,320,328. The business’s 50 day moving average is $10.54 and its two-hundred day moving average is $11.79. The stock has a market capitalization of $1.25 billion, a PE ratio of 97.44, a P/E/G ratio of 0.62 and a beta of 2.28. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 1.55. Dana has a one year low of $8.33 and a one year high of $15.07.

Dana (NYSE:DAN) last issued its earnings results on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, research analysts forecast that Dana will post 0.95 earnings per share for the current year.

Dana Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Friday, November 8th. Dana’s dividend payout ratio is presently 444.44%.

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.