Dana (NYSE:DAN) Updates FY24 Earnings Guidance

Dana (NYSE:DAN - Get Free Report) 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.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DAN shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $12.00 price objective on shares of Dana in a report on Tuesday, September 10th. Wells Fargo & Company lowered Dana from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $13.00 to $9.00 in a research report on Friday, September 20th. Wolfe Research began coverage on Dana in a report on Thursday, September 5th. They issued a "peer perform" rating for the company. UBS Group cut their target price on shares of Dana from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Wednesday, July 10th. Finally, Barclays lowered their price objective on shares of Dana from $16.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $13.50.

Dana Price Performance

DAN stock traded down $1.75 on Wednesday, reaching $8.39. 7,405,532 shares of the company's stock were exchanged, compared to its average volume of 1,349,191. The stock has a fifty day moving average of $10.54 and a 200-day moving average of $11.79. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 1.55. Dana has a twelve month low of $8.33 and a twelve month high of $15.07. The firm has a market cap of $1.22 billion, a PE ratio of 97.44, a P/E/G ratio of 0.62 and a beta of 2.28.

Dana (NYSE:DAN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.07. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the prior year, the firm posted $0.37 EPS. The company's revenue was down .4% on a year-over-year basis. As a group, equities analysts predict that Dana will post 0.95 EPS for the current fiscal year.

Dana Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders 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 4.77%. Dana's dividend payout ratio (DPR) is presently 444.44%.

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.