Dana (NYSE:DAN) Issues FY24 Earnings Guidance

Dana (NYSE:DAN) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.75-0.95 for the period, compared to the consensus EPS estimate of $0.91. The company issued revenue guidance of $10.2-10.4 billion, compared to the consensus revenue estimate of $10.55 billion. Dana also updated its FY 2024 guidance to 0.750-0.950 EPS.

Dana Trading Up 3.1 %

NYSE:DAN traded up $0.24 on Friday, hitting $7.91. The stock had a trading volume of 2,566,476 shares, compared to its average volume of 1,371,853. The company has a fifty day moving average price of $10.43 and a two-hundred day moving average price of $11.73. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -69.68, a PEG ratio of 0.50 and a beta of 2.28. Dana has a 1-year low of $7.63 and a 1-year high of $15.07. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 1.58.

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

Dana Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 8th will be issued a $0.10 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.06%. Dana’s dividend payout ratio is presently -363.60%.

Analyst Ratings Changes

Several equities analysts have weighed in on DAN shares. StockNews.com downgraded shares of Dana from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Dana from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. UBS Group lowered their target price 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. Barclays lowered their target price on shares of Dana from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Wells Fargo & Company decreased their price objective on shares of Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday. One 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. Based on data from MarketBeat, Dana presently has a consensus rating of “Hold” and a consensus price target of $12.83.

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.