Dana (NYSE:DAN – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.350-0.850 for the period, compared to the consensus EPS 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.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on DAN shares. Barclays cut their target price 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. JPMorgan Chase & Co. reduced their price target on Dana from $19.00 to $18.00 and set an overweight rating for the company in a research report on Monday, February 26th. Finally, Wells Fargo & Company lowered their price objective on Dana from $14.00 to $13.00 and set an equal weight rating on the stock in a research report on Wednesday, February 21st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Dana currently has an average rating of Hold and a consensus target price of $16.43.
Check Out Our Latest Analysis on Dana
Dana Stock Down 1.0 %
Dana (NYSE:DAN – Get Free Report) last issued its earnings results on Tuesday, February 20th. The auto parts company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Dana had a net margin of 0.36% and a return on equity of 7.37%. Dana’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) EPS. As a group, research analysts expect that Dana will post 0.99 EPS for the current fiscal year.
Dana Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 10th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.40 dividend on an annualized basis and a yield of 3.20%. Dana’s payout ratio is 153.85%.
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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