Dana (NYSE:DAN) Updates FY 2024 Earnings Guidance

Dana (NYSE:DAN) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.750-0.950 for the period, compared to the consensus earnings per share estimate of 0.920. The company issued revenue guidance of $10.2 billion-$10.4 billion, compared to the consensus revenue estimate of $10.6 billion. Dana also updated its FY24 guidance to $0.75-0.95 EPS.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Dana from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $12.00 price target on shares of Dana in a research note on Tuesday, September 10th. StockNews.com downgraded shares of Dana from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Barclays cut their target price on shares of Dana from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on Dana from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. One 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 an average target price of $12.83.

Dana Price Performance

Shares of NYSE:DAN opened at $7.91 on Friday. The firm’s 50 day simple moving average is $10.37 and its two-hundred day simple moving average is $11.71. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.49 and a quick ratio of 0.90. The company has a market capitalization of $1.15 billion, a P/E ratio of -71.90, a P/E/G ratio of 0.50 and a beta of 2.28. Dana has a 1-year low of $7.63 and a 1-year high of $15.07.

Dana (NYSE:DAN) last issued its earnings results on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.13). The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.57 billion. Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 EPS. Research analysts expect that Dana will post 0.94 EPS for the current fiscal year.

Dana Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 8th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a yield of 5.06%. Dana’s dividend payout ratio is presently -363.60%.

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.