Dana (NYSE:DAN) Shares Gap Up on Earnings Beat

Dana Incorporated (NYSE:DAN)’s share price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $11.77, but opened at $12.71. Dana shares last traded at $12.90, with a volume of 309,739 shares changing hands.

The auto parts company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. Dana had a positive return on equity of 4.91% and a negative net margin of 0.01%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis.

Dana Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 9th will be given a $0.10 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.40 annualized dividend and a dividend yield of 3.56%. Dana’s payout ratio is presently 444.49%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DAN shares. Barclays raised their price objective on Dana from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of Dana from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. UBS Group decreased their target price on shares of Dana from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Oppenheimer lifted their price target on shares of Dana from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company increased their price objective on Dana from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Dana presently has a consensus rating of “Hold” and an average target price of $15.20.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Rhumbline Advisers boosted its stake in shares of Dana by 1.3% in the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock worth $5,170,000 after buying an additional 5,468 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Dana during the 2nd quarter worth approximately $388,000. Cibc World Markets Corp increased its holdings in shares of Dana by 46.0% during the 4th quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock valued at $17,386,000 after purchasing an additional 375,000 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in shares of Dana by 89.5% in the 4th quarter. Great Lakes Advisors LLC now owns 126,015 shares of the auto parts company’s stock valued at $1,841,000 after purchasing an additional 59,502 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Dana by 71.5% during the fourth quarter. Handelsbanken Fonder AB now owns 35,490 shares of the auto parts company’s stock worth $519,000 after buying an additional 14,800 shares in the last quarter. 96.79% of the stock is owned by institutional investors and hedge funds.

Dana Price Performance

The stock’s fifty day moving average is $12.57 and its 200-day moving average is $12.78. The stock has a market capitalization of $1.63 billion, a PE ratio of 124.79 and a beta of 2.33. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.60 and a quick ratio of 0.97.

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.