Dana Incorporated (NYSE:DAN - Get Free Report)'s stock price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. 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 traded.
The auto parts company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.28 billion. Dana had a positive return on equity of 6.70% and a negative net margin of 0.55%. The company's revenue was down 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 EPS.
Dana Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, May 31st. Shareholders of record on Saturday, May 10th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.74%. Dana's payout ratio is -102.56%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on DAN shares. Barclays upped their price target on Dana from $17.00 to $20.00 and gave the company an "overweight" rating in a research report on Friday. Royal Bank of Canada raised their price target on shares of Dana from $13.00 to $16.00 and gave the stock a "sector perform" rating in a report on Friday, February 21st. StockNews.com lowered shares of Dana from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. UBS Group boosted their target price on shares of Dana from $18.00 to $20.00 and gave the company a "buy" rating in a report on Thursday. Finally, Wells Fargo & Company upgraded Dana from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $10.00 to $16.00 in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Dana has a consensus rating of "Moderate Buy" and an average target price of $18.14.
Read Our Latest Research Report on Dana
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Yousif Capital Management LLC grew its stake in Dana by 2.0% in the fourth quarter. Yousif Capital Management LLC now owns 56,818 shares of the auto parts company's stock valued at $657,000 after acquiring an additional 1,130 shares during the period. GAMMA Investing LLC increased its stake in Dana by 118.3% during the 4th quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company's stock valued at $31,000 after purchasing an additional 1,464 shares in the last quarter. SG Americas Securities LLC raised its holdings in Dana by 3.8% during the first quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company's stock worth $599,000 after buying an additional 1,662 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Dana by 484.6% in the fourth quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company's stock valued at $31,000 after buying an additional 2,234 shares in the last quarter. Finally, State of Tennessee Department of Treasury grew its holdings in shares of Dana by 6.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 54,271 shares of the auto parts company's stock valued at $627,000 after buying an additional 3,368 shares during the last quarter. 96.79% of the stock is owned by institutional investors and hedge funds.
Dana Trading Up 3.5 %
The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $2.13 billion, a P/E ratio of -37.43, a P/E/G ratio of 0.72 and a beta of 2.26. The firm's 50-day moving average price is $13.10 and its 200 day moving average price is $12.40.
Dana Company Profile
(
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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.
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