Dana (NYSE:DAN – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.75-0.95 for the period, compared to the consensus estimate of $0.91. The company issued revenue guidance of $10.2-10.4 billion, compared to the consensus revenue estimate of $10.55 billion. Dana also updated its FY 2024 guidance to 0.750-0.950 EPS.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. StockNews.com downgraded Dana from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $12.00 price target on shares of Dana in a report on Tuesday, September 10th. JPMorgan Chase & Co. reduced their price target on Dana from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Wolfe Research initiated coverage on Dana in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Barclays cut their price objective on Dana from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.83.
View Our Latest Stock Analysis on Dana
Dana Stock Performance
Dana (NYSE:DAN – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.13). The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. On average, sell-side analysts expect that Dana will post 0.94 EPS for the current year.
Dana Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 8th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.06%. The ex-dividend date is Friday, November 8th. Dana’s dividend payout ratio is currently -363.60%.
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.
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