Shares of Dana Incorporated (NYSE:DAN) gapped up prior to trading on Monday following a stronger than expected earnings report. The stock had previously closed at $21.59, but opened at $23.30. Dana shares last traded at $23.72, with a volume of 3,702,306 shares changing hands.
The auto parts company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.17. The company had revenue of $18.40 million during the quarter, compared to the consensus estimate of $1.67 billion. Dana had a net margin of 10.80% and a return on equity of 30.79%. The company’s quarterly revenue was down 98.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, August 9th. Dana’s dividend payout ratio is presently 5.10%.
Several brokerages have weighed in on DAN. CLSA began coverage on shares of Dana in a research note on Thursday, June 22nd. They issued a “buy” rating and a $27.00 price objective for the company. Barclays PLC cut shares of Dana from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $23.00 to $24.00 in a research note on Wednesday, July 19th. Susquehanna Bancshares Inc cut shares of Dana from a “neutral” rating to a “negative” rating and set a $19.00 price objective for the company. in a research note on Thursday, July 13th. UBS AG restated a “neutral” rating and issued a $24.00 target price (up from $20.00) on shares of Dana in a research report on Tuesday, August 1st. Finally, BidaskClub upgraded shares of Dana from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.50.
Several large investors have recently bought and sold shares of DAN. World Asset Management Inc raised its stake in Dana by 0.3% in the first quarter. World Asset Management Inc now owns 10,815 shares of the auto parts company’s stock worth $209,000 after buying an additional 37 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Dana by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,097 shares of the auto parts company’s stock worth $471,000 after buying an additional 60 shares during the last quarter. Capstone Asset Management Co. increased its position in Dana by 0.4% in the second quarter. Capstone Asset Management Co. now owns 18,278 shares of the auto parts company’s stock worth $408,000 after buying an additional 80 shares during the last quarter. US Bancorp DE increased its position in Dana by 1.4% in the second quarter. US Bancorp DE now owns 9,605 shares of the auto parts company’s stock worth $214,000 after buying an additional 129 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in Dana by 1.3% in the second quarter. Teacher Retirement System of Texas now owns 11,550 shares of the auto parts company’s stock worth $258,000 after buying an additional 143 shares during the last quarter. 97.55% of the stock is currently owned by institutional investors.
The company has a market cap of $3.30 billion, a P/E ratio of 4.84 and a beta of 1.49. The stock’s 50-day moving average price is $23.49 and its 200-day moving average price is $20.77.
TRADEMARK VIOLATION WARNING: “Dana Incorporated (DAN) Shares Gap Up Following Better-Than-Expected Earnings” was first published by BNB Daily and is owned by of BNB Daily. If you are reading this story on another website, it was illegally stolen and reposted in violation of US and international copyright legislation. The correct version of this story can be accessed at https://www.baseball-news-blog.com/2017/08/19/dana-incorporated-dan-shares-gap-up-after-earnings-beat-updated-updated.html.
Dana Company Profile
Dana Incorporated, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies.
Receive News & Ratings for Dana Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dana Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.