Dana (NYSE:DAN) Releases FY24 Earnings Guidance

Dana (NYSE:DAN) updated its FY24 earnings guidance on Tuesday. 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 also updated its FY 2024 guidance to 0.350-0.850 EPS.

Dana Stock Performance

Dana stock traded down $0.01 during mid-day trading on Friday, reaching $13.31. 1,107,806 shares of the stock traded hands, compared to its average volume of 1,294,089. The stock has a market capitalization of $1.93 billion, a PE ratio of 147.91, a price-to-earnings-growth ratio of 0.50 and a beta of 2.46. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.60 and a quick ratio of 0.93. The business’s 50-day moving average is $12.37 and its 200-day moving average is $12.98. Dana has a 12-month low of $11.10 and a 12-month high of $19.75.

Dana (NYSE:DAN) last released its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Dana had a net margin of 0.12% and a return on equity of 5.42%. Dana’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. As a group, sell-side analysts predict that Dana will post 0.75 EPS for the current fiscal year.

Dana Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 10th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Thursday, May 9th. Dana’s dividend payout ratio is presently 444.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DAN shares. Oppenheimer upped their price objective on Dana from $17.00 to $18.00 and gave the stock an outperform rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on 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 cut their price objective on Dana from $14.00 to $13.00 and set an equal weight rating for the company in a research note on Wednesday, February 21st. Finally, Barclays decreased their target price 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 analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Dana has an average rating of Hold and a consensus target price of $16.67.

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.