Dana (NYSE:DAN – Get Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.60-$0.90 for the period, compared to the consensus EPS estimate of $1.24. The company issued revenue guidance of $10.00 billion-$10.20 billion, compared to the consensus revenue estimate of $10.04 billion. Dana also updated its FY22 guidance to $0.60-0.90 EPS.
Dana Price Performance
DAN traded down $0.97 during trading hours on Wednesday, hitting $15.74. The company’s stock had a trading volume of 10,250 shares, compared to its average volume of 932,652. The business’s 50-day moving average price is $15.36 and its 200-day moving average price is $17.11. Dana has a 12 month low of $13.06 and a 12 month high of $25.59. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 16.16 and a beta of 2.27. The company has a current ratio of 1.52, a quick ratio of 0.90 and a debt-to-equity ratio of 1.20.
Dana Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 12th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.54%. The ex-dividend date is Thursday, August 11th. Dana’s dividend payout ratio is presently 40.40%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on DAN shares. Barclays reduced their price target on shares of Dana from $18.00 to $16.00 in a research report on Thursday, April 28th. Wells Fargo & Company cut shares of Dana from an overweight rating to an equal weight rating and cut their price objective for the company from $23.00 to $17.00 in a research report on Tuesday, April 12th. Exane BNP Paribas started coverage on shares of Dana in a research report on Monday, April 11th. They set a neutral rating on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Dana from $21.00 to $18.00 in a research report on Thursday, April 28th. Finally, BNP Paribas started coverage on shares of Dana in a research report on Monday, April 11th. They set a neutral rating on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Dana currently has a consensus rating of Hold and an average price target of $21.00.
Institutional Inflows and Outflows
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A number of hedge funds have recently made changes to their positions in DAN. MetLife Investment Management LLC grew its holdings in shares of Dana by 41.1% in the first quarter. MetLife Investment Management LLC now owns 169,160 shares of the auto parts company’s stock worth $2,972,000 after purchasing an additional 49,268 shares during the last quarter. Rhumbline Advisers lifted its stake in Dana by 1.5% in the first quarter. Rhumbline Advisers now owns 427,547 shares of the auto parts company’s stock worth $7,512,000 after acquiring an additional 6,465 shares during the period. Yousif Capital Management LLC lifted its stake in Dana by 2.9% in the first quarter. Yousif Capital Management LLC now owns 82,651 shares of the auto parts company’s stock worth $1,452,000 after acquiring an additional 2,303 shares during the period. Gamco Investors INC. ET AL lifted its stake in Dana by 9.6% in the first quarter. Gamco Investors INC. ET AL now owns 3,612,318 shares of the auto parts company’s stock worth $63,468,000 after acquiring an additional 316,466 shares during the period. Finally, Gabelli Funds LLC lifted its stake in Dana by 2.3% in the first quarter. Gabelli Funds LLC now owns 2,621,679 shares of the auto parts company’s stock worth $46,063,000 after acquiring an additional 60,025 shares during the period. 94.65% of the stock is currently owned by institutional investors.
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.
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