Dana (NYSE:DAN) Releases FY24 Earnings Guidance

Dana (NYSE:DAN) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.35-0.85 for the period, compared to the consensus estimate of $0.87. The company issued revenue guidance of $10.65-11.15 billion, compared to the consensus revenue estimate of $10.89 billion. Dana also updated its FY 2024 guidance to 0.350-0.850 EPS.

Dana Price Performance

Shares of DAN traded up $0.09 during midday trading on Thursday, reaching $13.35. The stock had a trading volume of 612,692 shares, compared to its average volume of 1,280,137. The company’s 50-day moving average is $12.34 and its 200 day moving average is $12.98. Dana has a 12-month low of $11.10 and a 12-month high of $19.75. The company has a current ratio of 1.60, a quick ratio of 0.93 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 147.35, a price-to-earnings-growth ratio of 0.47 and a beta of 2.46.

Dana (NYSE:DAN) last released its earnings results on Tuesday, April 30th. The auto parts company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Dana had a net margin of 0.12% and a return on equity of 5.42%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the firm posted $0.25 EPS. The company’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts predict that Dana will post 0.75 EPS for the current fiscal year.

Dana Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 10th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, May 9th. Dana’s dividend payout ratio (DPR) is presently 444.49%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DAN shares. JPMorgan Chase & Co. lowered their price target on Dana from $19.00 to $18.00 and set an overweight rating for the company in a research report on Monday, February 26th. Barclays lowered their price target on Dana from $16.00 to $15.00 and set an equal weight rating for the company in a research report on Wednesday, February 28th. Wells Fargo & Company decreased their target price on Dana from $14.00 to $13.00 and set an equal weight rating for the company in a research report on Wednesday, February 21st. Finally, Oppenheimer increased their target price on Dana from $17.00 to $18.00 and gave the stock an outperform rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $16.67.

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.