Dana (NYSE:DAN) Releases FY 2024 Earnings Guidance

Dana (NYSE:DAN) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.750-0.950 for the period, compared to the consensus EPS estimate of 0.920. The company issued revenue guidance of $10.2 billion-$10.4 billion, compared to the consensus revenue estimate of $10.6 billion. Dana also updated its FY24 guidance to $0.75-0.95 EPS.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays lowered their target price on Dana from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut their target price on Dana from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company reduced their price target on shares of Dana from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday. Wolfe Research started coverage on shares of Dana in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $12.00 price objective on shares of Dana in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.83.

Dana Stock Up 3.1 %

DAN traded up $0.24 on Friday, hitting $7.91. 2,566,476 shares of the company 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. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -69.68, a price-to-earnings-growth ratio of 0.50 and a beta of 2.28. The firm has a 50-day moving average price of $10.43 and a two-hundred day moving average price of $11.73. Dana has a twelve month low of $7.63 and a twelve month high of $15.07.

Dana (NYSE:DAN) last announced its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. On average, equities analysts predict that Dana will post 0.94 earnings per share for the current year.

Dana Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 8th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date 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.