Dana (NYSE:DAN) Shares Gap Down Following Weak Earnings

Shares of Dana Incorporated (NYSE:DAN - Get Free Report) gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $12.99, but opened at $12.20. Dana shares last traded at $13.46, with a volume of 277,035 shares.

The auto parts company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). Dana had a negative net margin of 0.55% and a positive return on equity of 6.70%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the company earned $0.02 EPS. The firm's quarterly revenue was down 14.0% compared to the same quarter last year.

Dana Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, May 31st. Stockholders of record on Saturday, May 10th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.75%. Dana's payout ratio is currently -102.56%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Dana from $13.00 to $16.00 and gave the company a "sector perform" rating in a research note on Friday, February 21st. Wells Fargo & Company raised shares of Dana from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $10.00 to $16.00 in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on shares of Dana from $14.00 to $20.00 and gave the company an "overweight" rating in a research report on Monday, January 27th. UBS Group increased their price objective on shares of Dana from $18.00 to $20.00 and gave the company a "buy" rating in a report on Thursday. Finally, StockNews.com lowered shares of Dana from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.14.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in Dana by 484.6% in the 4th quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company's stock valued at $31,000 after purchasing an additional 2,234 shares during the period. GAMMA Investing LLC boosted its stake in Dana by 118.3% in the 4th quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company's stock worth $31,000 after purchasing an additional 1,464 shares during the period. Yousif Capital Management LLC raised its holdings in Dana by 2.0% during the fourth quarter. Yousif Capital Management LLC now owns 56,818 shares of the auto parts company's stock worth $657,000 after acquiring an additional 1,130 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in Dana by 103.6% during the 4th quarter. Great Lakes Advisors LLC now owns 280,798 shares of the auto parts company's stock valued at $3,246,000 after purchasing an additional 142,850 shares during the last quarter. Finally, Cibc World Markets Corp lifted its holdings in shares of Dana by 1.8% during the fourth quarter. Cibc World Markets Corp now owns 687,220 shares of the auto parts company's stock worth $7,944,000 after buying an additional 12,220 shares in the last quarter. 96.79% of the stock is owned by hedge funds and other institutional investors.

Dana Stock Down 0.4 %

The stock has a 50-day moving average of $13.10 and a 200 day moving average of $12.42. The company has a market cap of $2.12 billion, a P/E ratio of -37.26, a PEG ratio of 0.72 and a beta of 2.26. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.45 and a quick ratio of 0.86.

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.