Dana (NYSE:DAN) Releases FY 2024 Earnings Guidance

Dana (NYSE:DAN - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.350-0.850 for the period, compared to the consensus earnings per share estimate of 0.890. The company issued revenue guidance of $10.7 billion-$11.2 billion, compared to the consensus revenue estimate of $10.9 billion. Dana also updated its FY24 guidance to $0.35-0.85 EPS.

Dana Stock Down 1.4 %

Shares of DAN stock traded down $0.18 during midday trading on Tuesday, reaching $12.44. 2,250,407 shares of the stock were exchanged, compared to its average volume of 1,260,824. Dana has a 1 year low of $11.10 and a 1 year high of $19.75. The company's 50 day moving average is $12.32 and its two-hundred day moving average is $12.98. The company has a current ratio of 1.58, a quick ratio of 0.93 and a debt-to-equity ratio of 1.59. The firm has a market cap of $1.80 billion, a PE ratio of 47.85, a price-to-earnings-growth ratio of 0.36 and a beta of 2.49.

Dana (NYSE:DAN - Get Free Report) last posted its earnings results on Tuesday, February 20th. The auto parts company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). Dana had a return on equity of 7.37% and a net margin of 0.36%. The firm had revenue of $2.49 billion for the quarter, compared to analysts' expectations of $2.58 billion. During the same quarter last year, the company posted ($0.10) EPS. The firm's revenue was down 2.4% on a year-over-year basis. On average, equities research analysts predict that Dana will post 0.99 EPS for the current year.

Dana Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.22%. Dana's dividend payout ratio (DPR) is 153.85%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company cut their price target on Dana from $14.00 to $13.00 and set an equal weight rating on the stock in a research note on Wednesday, February 21st. Barclays cut their price target on Dana from $16.00 to $15.00 and set an equal weight rating on the stock in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. cut their price target on Dana from $19.00 to $18.00 and set an overweight rating on the stock in a research note on Monday, February 26th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Dana currently has an average rating of Hold and a consensus target price of $16.43.

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.