Dana (NYSE:DAN) Sets New 52-Week Low Following Weak Earnings

Shares of Dana Incorporated (NYSE:DAN) reached a new 52-week low during mid-day trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $9.10 and last traded at $9.10, with a volume of 60179 shares changing hands. The stock had previously closed at $10.14.

The auto parts company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.13). Dana had a positive return on equity of 4.98% and a negative net margin of 0.01%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis.

Dana Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 8th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date is Friday, November 8th. Dana’s dividend payout ratio (DPR) is presently -4,000.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DAN. Barclays dropped their price objective on shares of Dana from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of Dana from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, October 21st. UBS Group decreased their price objective on Dana from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $12.00 price objective on shares of Dana in a research report on Tuesday, September 10th. Finally, Wolfe Research started coverage on Dana in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.83.

Institutional Trading of Dana

A hedge fund recently raised its stake in Dana stock. Rhumbline Advisers grew its position in Dana Incorporated (NYSE:DAN) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,586 shares of the auto parts company’s stock after buying an additional 5,468 shares during the quarter. Rhumbline Advisers owned 0.29% of Dana worth $5,170,000 as of its most recent filing with the Securities and Exchange Commission. 96.79% of the stock is owned by hedge funds and other institutional investors.

Dana Price Performance

The company has a fifty day moving average of $10.49 and a 200-day moving average of $11.76. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 1.55. The stock has a market cap of $1.11 billion, a PE ratio of -766.50, a P/E/G ratio of 0.62 and a beta of 2.28.

Dana Company Profile

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.