FY2023 EPS Estimates for Dana Incorporated (NYSE:DAN) Cut by Oppenheimer

Dana Incorporated (NYSE:DANGet Rating) – Analysts at Oppenheimer dropped their FY2023 EPS estimates for Dana in a report issued on Thursday, August 4th. Oppenheimer analyst N. Kaye now forecasts that the auto parts company will post earnings per share of $2.04 for the year, down from their prior estimate of $2.14. The consensus estimate for Dana’s current full-year earnings is $0.75 per share.

Dana (NYSE:DANGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The auto parts company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.13). The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.45 billion. Dana had a net margin of 1.03% and a return on equity of 4.89%. Dana’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 earnings per share.

Several other brokerages also recently weighed in on DAN. Deutsche Bank Aktiengesellschaft downgraded shares of Dana from a “buy” rating to a “hold” rating and lowered their target price for the company from $18.00 to $15.00 in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Dana from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday. BNP Paribas assumed coverage on shares of Dana in a research note on Monday, April 11th. They issued a “neutral” rating for the company. Exane BNP Paribas assumed coverage on shares of Dana in a research note on Monday, April 11th. They set a “neutral” rating for the company. Finally, Royal Bank of Canada lifted their price objective on shares of Dana from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dana presently has an average rating of “Hold” and a consensus price target of $19.00.

Dana Price Performance

Shares of DAN opened at $15.92 on Friday. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 23.07 and a beta of 2.27. Dana has a twelve month low of $13.06 and a twelve month high of $25.59. The company has a quick ratio of 0.90, a current ratio of 1.52 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average of $15.37 and a two-hundred day moving average of $16.98.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Gabelli Funds LLC raised its holdings in shares of Dana by 4.4% during the fourth quarter. Gabelli Funds LLC now owns 2,561,654 shares of the auto parts company’s stock worth $58,457,000 after purchasing an additional 107,540 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of Dana by 8.8% during the fourth quarter. Pzena Investment Management LLC now owns 3,348,838 shares of the auto parts company’s stock worth $76,420,000 after purchasing an additional 270,195 shares during the last quarter. Keene & Associates Inc. raised its holdings in shares of Dana by 19.9% during the first quarter. Keene & Associates Inc. now owns 19,707 shares of the auto parts company’s stock worth $346,000 after purchasing an additional 3,267 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in Dana by 6.8% in the first quarter. Crossmark Global Holdings Inc. now owns 13,070 shares of the auto parts company’s stock valued at $229,000 after buying an additional 830 shares in the last quarter. Finally, Aaron Wealth Advisors LLC purchased a new position in Dana in the first quarter valued at $640,000. Hedge funds and other institutional investors own 94.65% of the company’s stock.

Dana Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.40 annualized dividend and a dividend yield of 2.51%. Dana’s dividend payout ratio (DPR) is presently 57.97%.

Dana Company Profile

(Get Rating)

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.

See Also

Earnings History and Estimates for Dana (NYSE:DAN)

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