Dana Incorporated (DAN) Shares Gap Up Following Better-Than-Expected Earnings

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.

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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.

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