Dana (NYSE:DAN) Updates FY24 Earnings Guidance

Dana (NYSE:DAN) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.35-0.85 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of DAN opened at $12.63 on Tuesday. The firm has a market cap of $1.83 billion, a PE ratio of 48.58, a PEG ratio of 0.36 and a beta of 2.49. The firm’s 50 day moving average price is $12.32 and its 200 day moving average price is $12.98. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.93 and a current ratio of 1.58. Dana has a twelve month low of $11.10 and a twelve month high of $19.75.

Dana (NYSE:DAN) last released its quarterly earnings results on Tuesday, February 20th. The auto parts company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.58 billion. Dana had a net margin of 0.36% and a return on equity of 7.37%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.10) EPS. As a group, research analysts expect that Dana will post 0.99 EPS for the current fiscal year.

Dana Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.40 annualized dividend and a dividend yield of 3.17%. Dana’s payout ratio is 153.85%.

Analysts Set New Price Targets

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

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.