Dana Incorporated (NYSE:DAN – Get Free Report) declared a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Stockholders of record on Friday, November 8th will be paid a dividend of 0.10 per share by the auto parts company on Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, November 8th.
Dana has raised its dividend payment by an average of 58.7% per year over the last three years. Dana has a dividend payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dana to earn $1.63 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 24.5%.
Dana Price Performance
Shares of Dana stock traded up $0.10 during trading on Thursday, reaching $10.30. The company’s stock had a trading volume of 1,258,996 shares, compared to its average volume of 1,317,122. Dana has a one year low of $9.16 and a one year high of $15.07. The stock has a 50-day moving average price of $10.59 and a two-hundred day moving average price of $11.85. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $1.49 billion, a P/E ratio of 114.44, a price-to-earnings-growth ratio of 0.62 and a beta of 2.28.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on DAN shares. StockNews.com lowered shares of Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Barclays dropped their price objective on Dana from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $12.00 target price on shares of Dana in a research note on Tuesday, September 10th. 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, Wells Fargo & Company cut Dana from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $13.00 to $9.00 in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.50.
Check Out Our Latest Report on DAN
Dana Company Profile
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.
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