Dana (NYSE:DAN) Issues FY 2024 Earnings Guidance

Dana (NYSE:DAN) updated its FY 2024 earnings guidance on Wednesday. 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wolfe Research started coverage on shares of Dana in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Barclays dropped their price target on Dana from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of Dana from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday. UBS Group reduced their price target on shares of Dana from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. reduced their price target 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.83.

Dana Stock Performance

DAN stock traded up $0.24 during midday trading on Friday, hitting $7.91. The stock had a trading volume of 2,566,154 shares, compared to its average volume of 1,371,853. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -69.68, a P/E/G ratio of 0.50 and a beta of 2.28. Dana has a 52 week low of $7.63 and a 52 week high of $15.07. The stock has a 50-day simple moving average of $10.43 and a 200 day simple moving average of $11.73. 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 (NYSE:DAN) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.57 billion. Dana had a negative net margin of 0.15% and a positive return on equity of 3.48%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.30 EPS. As a group, equities research analysts anticipate 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. Shareholders of record on Friday, November 8th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Friday, November 8th. Dana’s payout ratio 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.