Dana Inc (NYSE:DAN) dropped 12.9% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $16.40 and last traded at $16.71, approximately 6,856,393 shares were traded during trading. An increase of 280% from the average daily volume of 1,806,013 shares. The stock had previously closed at $19.18.
The auto parts company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.02). The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.35 billion. Dana had a net margin of 5.11% and a return on equity of 31.31%. Dana’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS.
DAN has been the topic of several recent analyst reports. Wolfe Research lowered shares of Dana from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 18th. They noted that the move was a valuation call. ValuEngine upgraded shares of Dana from a “strong sell” rating to a “sell” rating in a report on Thursday, June 27th. Credit Suisse Group began coverage on shares of Dana in a report on Wednesday, June 26th. They set an “outperform” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Dana from a “sell” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $21.10.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. LSV Asset Management raised its holdings in shares of Dana by 1.1% in the 1st quarter. LSV Asset Management now owns 2,603,403 shares of the auto parts company’s stock worth $46,184,000 after acquiring an additional 28,400 shares during the last quarter. Norges Bank acquired a new stake in shares of Dana in the 4th quarter worth about $30,517,000. Wells Fargo & Company MN raised its holdings in shares of Dana by 9.5% in the 1st quarter. Wells Fargo & Company MN now owns 1,719,204 shares of the auto parts company’s stock worth $30,499,000 after acquiring an additional 149,864 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Dana by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 1,617,488 shares of the auto parts company’s stock worth $22,045,000 after acquiring an additional 175,414 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Dana by 1.6% in the 4th quarter. Bank of America Corp DE now owns 973,344 shares of the auto parts company’s stock worth $13,266,000 after acquiring an additional 14,935 shares during the last quarter. Hedge funds and other institutional investors own 94.31% of the company’s stock.
The company has a current ratio of 1.63, a quick ratio of 1.02 and a debt-to-equity ratio of 1.67. The firm has a market cap of $2.81 billion, a P/E ratio of 5.63, a price-to-earnings-growth ratio of 1.66 and a beta of 2.19. The company has a fifty day moving average price of $18.46.
About Dana (NYSE:DAN)
Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Drive and Motion Technologies, and Power Technologies.
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