Dana (NYSE:DAN) Announces Earnings Results

Dana (NYSE:DAN) posted its quarterly earnings results on Friday. The auto parts company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.20, Briefing.com reports. Dana had a positive return on equity of 7.16% and a negative net margin of 0.96%. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the firm earned $0.24 earnings per share. Dana’s quarterly revenue was up 5.3% on a year-over-year basis. Dana updated its FY 2023 guidance to $0.80-$0.80 EPS.

Dana Stock Performance

Shares of DAN opened at $12.62 on Monday. Dana has a twelve month low of $12.31 and a twelve month high of $19.75. The stock’s 50 day moving average is $14.56 and its two-hundred day moving average is $15.36. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 1.56.

Dana Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Thursday, November 9th. Dana’s dividend payout ratio is presently -55.55%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DAN shares. UBS Group started coverage on Dana in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $17.00 price target on the stock. StockNews.com cut Dana from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. JPMorgan Chase & Co. lifted their target price on Dana from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, July 20th. Barclays lifted their target price on Dana from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. Finally, Wells Fargo & Company cut their target price on Dana from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 3rd. 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, the company currently has an average rating of “Hold” and a consensus price target of $18.14.

Insider Buying and Selling at Dana

In other Dana news, CAO James D. Kellett sold 14,437 shares of Dana stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $19.08, for a total value of $275,457.96. Following the sale, the chief accounting officer now owns 6,279 shares of the company’s stock, valued at approximately $119,803.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Aziz Aghili sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $19.19, for a total transaction of $575,700.00. Following the sale, the executive vice president now owns 14,975 shares of the company’s stock, valued at approximately $287,370.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James D. Kellett sold 14,437 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $19.08, for a total value of $275,457.96. Following the sale, the chief accounting officer now directly owns 6,279 shares in the company, valued at approximately $119,803.32. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DAN. Captrust Financial Advisors raised its holdings in Dana by 121.5% in the 2nd quarter. Captrust Financial Advisors now owns 5,502 shares of the auto parts company’s stock valued at $77,000 after acquiring an additional 3,018 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in Dana in the 3rd quarter valued at $335,000. Yousif Capital Management LLC grew its stake in shares of Dana by 2.9% during the 1st quarter. Yousif Capital Management LLC now owns 82,651 shares of the auto parts company’s stock valued at $1,452,000 after buying an additional 2,303 shares during the period. State of Tennessee Treasury Department grew its stake in shares of Dana by 51.1% during the 2nd quarter. State of Tennessee Treasury Department now owns 116,789 shares of the auto parts company’s stock valued at $1,985,000 after buying an additional 39,515 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of Dana by 41.1% during the 1st quarter. MetLife Investment Management LLC now owns 169,160 shares of the auto parts company’s stock valued at $2,972,000 after buying an additional 49,268 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

About Dana

Dana Incorporated provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. It operates in four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.