Dana (NYSE:DAN) Releases FY 2024 Earnings Guidance

Dana (NYSE:DAN) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.350-0.850 for the period, compared to the consensus earnings per share estimate of 0.890. The company issued revenue guidance of $10.7 billion-$11.2 billion, compared to the consensus revenue estimate of $10.9 billion. Dana also updated its FY24 guidance to $0.35-0.85 EPS.

Analyst Ratings Changes

Several research firms have recently weighed in on DAN. Wells Fargo & Company cut their price objective on Dana from $14.00 to $13.00 and set an equal weight rating on the stock in a report on Wednesday, February 21st. Barclays decreased their target price on Dana from $16.00 to $15.00 and set an equal weight rating on the stock in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. reduced their price target on Dana from $19.00 to $18.00 and set an overweight rating for the company in a research note on Monday, February 26th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $16.43.

Dana Stock Performance

Shares of DAN traded down $0.19 on Tuesday, reaching $12.43. 2,248,623 shares of the company’s stock traded hands, compared to its average volume of 1,251,834. The stock has a market cap of $1.80 billion, a PE ratio of 48.58, a PEG ratio of 0.36 and a beta of 2.49. Dana has a 52-week low of $11.10 and a 52-week high of $19.75. The stock’s 50 day simple moving average is $12.32 and its two-hundred day simple moving average is $12.98. The company has a current ratio of 1.58, a quick ratio of 0.93 and a debt-to-equity ratio of 1.59.

Dana (NYSE:DAN) last issued its quarterly earnings results on Tuesday, February 20th. The auto parts company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Dana had a return on equity of 7.37% and a net margin of 0.36%. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the firm earned ($0.10) EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts forecast that Dana will post 0.99 earnings per share for the current fiscal year.

Dana Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.40 dividend on an annualized basis and a yield of 3.22%. Dana’s dividend payout ratio is presently 153.85%.

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.