Dana Incorporated (NYSE:DAN) released its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.17, Bloomberg Earnings reports. Dana had a return on equity of 30.79% and a net margin of 10.80%. The firm had revenue of $18.40 million during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. The business’s revenue was down 98.8% on a year-over-year basis. Dana updated its FY17 guidance to $2.20-2.40 EPS.
Shares of Dana (DAN) opened at 22.83 on Friday. The stock’s 50 day moving average price is $23.49 and its 200 day moving average price is $20.77. The company has a market cap of $3.30 billion, a P/E ratio of 4.84 and a beta of 1.49. Dana has a 12-month low of $13.93 and a 12-month high of $25.10.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.24 annualized dividend and a dividend yield of 1.05%. Dana’s dividend payout ratio is 5.10%.
Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Dana by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,055 shares of the auto parts company’s stock valued at $113,000 after buying an additional 520 shares during the period. Ledyard National Bank acquired a new stake in Dana during the first quarter valued at $168,000. US Bancorp DE boosted its stake in Dana by 15.0% in the first quarter. US Bancorp DE now owns 9,476 shares of the auto parts company’s stock valued at $183,000 after buying an additional 1,233 shares during the period. ETRADE Capital Management LLC acquired a new stake in Dana during the second quarter valued at $205,000. Finally, World Asset Management Inc boosted its stake in Dana by 0.3% in the first quarter. World Asset Management Inc now owns 10,815 shares of the auto parts company’s stock valued at $209,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 97.55% of the company’s stock.
DAN has been the subject of several recent analyst reports. Guggenheim started coverage on Dana in a report on Wednesday, June 21st. They issued a “buy” rating and a $27.00 price objective for the company. BidaskClub upgraded Dana from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Deutsche Bank AG reissued a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Dana in a report on Wednesday, May 3rd. Zacks Investment Research raised Dana from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday, April 25th. Finally, CLSA initiated coverage on Dana in a research note on Thursday, June 22nd. They set a “buy” rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $23.50.
Dana Incorporated, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies.
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