Dana Incorporated (NYSE:DAN) Plans $0.10 Quarterly Dividend

Dana Incorporated (NYSE:DAN) declared a quarterly dividend on Wednesday, July 24th, NASDAQ reports. Stockholders of record on Friday, August 9th will be given a dividend of 0.10 per share by the auto parts company on Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, August 9th.

Dana has increased its dividend by an average of 58.7% per year over the last three years. Dana has a dividend payout ratio of 27.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Dana to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 19.0%.

Dana Stock Performance

NYSE:DAN traded down $0.01 on Thursday, hitting $11.79. The stock had a trading volume of 2,256,148 shares, compared to its average volume of 1,216,930. The business’s 50-day simple moving average is $12.80 and its two-hundred day simple moving average is $12.83. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 131.01 and a beta of 2.33. Dana has a 52-week low of $11.10 and a 52-week high of $19.75. The company has a quick ratio of 0.97, a current ratio of 1.60 and a debt-to-equity ratio of 1.61.

Dana (NYSE:DAN) last issued its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Dana had a return on equity of 5.42% and a net margin of 0.12%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the company earned $0.25 EPS. Dana’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts predict that Dana will post 0.75 earnings per share for the current year.

Analyst Ratings Changes

DAN has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price target on Dana from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday. Wells Fargo & Company reduced their target price on shares of Dana from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, June 25th. UBS Group decreased their target price 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. Finally, Oppenheimer upped their price target on shares of Dana from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.50.

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.