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 0.800-1.300 for the period, compared to the consensus earnings per share estimate of 1.000. The company issued revenue guidance of $10.5 billion-$11.0 billion, compared to the consensus revenue estimate of $10.8 billion. Dana also updated its FY24 guidance to $0.80-1.30 EPS.

Dana Price Performance

Shares of DAN traded up $1.38 during trading hours on Wednesday, reaching $13.15. The company had a trading volume of 827,461 shares, compared to its average volume of 1,214,701. The firm has a 50 day simple moving average of $12.62 and a 200-day simple moving average of $12.78. The company has a current ratio of 1.60, a quick ratio of 0.97 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 144.24 and a beta of 2.33. Dana has a 12-month low of $11.10 and a 12-month high of $19.36.

Dana (NYSE:DAN) last announced its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $2.74 billion during 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%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS. Research analysts expect that Dana will post 0.65 earnings per share for the current year.

Dana Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, August 9th. This represents a $0.40 annualized dividend and a yield of 3.04%. Dana’s dividend payout ratio (DPR) is currently 444.49%.

Analyst Ratings Changes

Several equities analysts have weighed in on DAN shares. Wells Fargo & Company dropped their target price on shares of Dana from $13.00 to $12.00 and set an equal weight rating for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. dropped their target price on shares of Dana from $18.00 to $17.00 and set an overweight rating for the company in a report on Monday, July 22nd. Oppenheimer raised their target price on shares of Dana from $17.00 to $18.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Finally, UBS Group lowered their price target on shares of Dana from $14.00 to $12.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Dana currently has an average rating of Hold and an average price target of $15.50.

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.