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.

Dana Stock Up 3.1 %

Shares of NYSE:DAN traded up $0.24 during trading hours on Friday, hitting $7.91. The company’s stock had a trading volume of 2,566,476 shares, compared to its average volume of 1,371,853. The firm’s fifty day moving average price is $10.43 and its 200 day moving average price is $11.73. Dana has a 52 week low of $7.63 and a 52 week high of $15.07. The company 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. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.49 and a quick ratio of 0.90.

Dana (NYSE:DAN) last released its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.13). The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.57 billion. Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The company’s revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 earnings per share. As a group, research analysts expect that Dana will post 0.94 EPS for the current year.

Dana Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 8th will be paid a $0.10 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.40 annualized dividend and a yield of 5.06%. Dana’s dividend payout ratio (DPR) is -363.60%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DAN. Barclays reduced their target price on Dana from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. UBS Group decreased their price objective on shares of Dana from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $12.00 target price on shares of Dana in a research report on Tuesday, September 10th. Wells Fargo & Company decreased their price target on shares of Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on Dana from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.83.

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.