Dana (NYSE:DAN) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Dana (NYSE:DAN) issued its quarterly earnings data on Wednesday. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07, Briefing.com reports. Dana had a positive return on equity of 4.98% and a negative net margin of 0.01%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the firm earned $0.37 EPS. Dana’s quarterly revenue was down .4% compared to the same quarter last year. Dana updated its FY24 guidance to $0.80-1.30 EPS and its FY 2024 guidance to 0.800-1.300 EPS.

Dana Stock Performance

NYSE DAN traded down $0.88 during trading on Friday, reaching $11.24. 1,930,313 shares of the company’s stock were exchanged, compared to its average volume of 1,196,942. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.48 and a quick ratio of 0.97. The business has a 50 day moving average price of $12.52 and a 200-day moving average price of $12.76. The stock has a market capitalization of $1.63 billion, a P/E ratio of 124.79 and a beta of 2.33. Dana has a fifty-two week low of $11.05 and a fifty-two week high of $18.41.

Dana Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, August 9th. This represents a $0.40 annualized dividend and a dividend yield of 3.56%. Dana’s dividend payout ratio is presently 444.49%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group cut their target price on Dana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. reduced their target price on shares of Dana from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Oppenheimer lifted their price target on shares of Dana from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. StockNews.com upgraded shares of Dana from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Barclays raised their price objective on Dana from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Dana has a consensus rating of “Moderate Buy” and an average price target of $15.20.

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.