Dana (NYSE:DAN) Releases Earnings Results, Misses Estimates By $0.08 EPS

Dana (NYSE:DAN - Get Free Report) announced its earnings results on Tuesday. The auto parts company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.08), Briefing.com reports. Dana had a return on equity of 7.37% and a net margin of 0.36%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the firm posted $0.25 EPS. The company's revenue was up 3.4% compared to the same quarter last year. Dana updated its FY24 guidance to $0.35-0.85 EPS and its FY 2024 guidance to 0.350-0.850 EPS.

Dana Price Performance

Shares of NYSE:DAN traded up $0.83 on Wednesday, hitting $13.26. The stock had a trading volume of 3,592,564 shares, compared to its average volume of 1,288,588. Dana has a twelve month low of $11.10 and a twelve month high of $19.75. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.93 and a current ratio of 1.58. The firm's 50 day moving average price is $12.34 and its 200-day moving average price is $12.98. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 51.00, a price-to-earnings-growth ratio of 0.36 and a beta of 2.49.

Dana Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 10th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.40 annualized dividend and a dividend yield of 3.02%. Dana's dividend payout ratio is presently 153.85%.

Analyst Upgrades and Downgrades

DAN has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Dana from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, February 26th. Wells Fargo & Company dropped their target price on shares of Dana from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 21st. Oppenheimer boosted their target price on shares of Dana from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Barclays dropped 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 report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $16.57.

About Dana

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.