Dana Incorporated (DAN) Downgraded to “Hold” at BidaskClub
BidaskClub cut shares of Dana Incorporated (NYSE:DAN) from a buy rating to a hold rating in a research report released on Saturday.
Other equities research analysts have also issued research reports about the company. CLSA assumed coverage on Dana in a research note on Thursday, June 22nd. They issued a buy rating and a $27.00 price target for the company. Barclays PLC lowered Dana from an overweight rating to an equal weight rating and increased their price target for the stock from $23.00 to $24.00 in a research note on Wednesday, July 19th. Susquehanna Bancshares Inc lowered Dana from a neutral rating to a negative rating and set a $19.00 price target for the company. in a research note on Thursday, July 13th. UBS AG reiterated a neutral rating and issued a $24.00 price target (up previously from $20.00) on shares of Dana in a research note on Tuesday, August 1st. Finally, Buckingham Research increased their price target on Dana from $23.00 to $25.00 and gave the stock a neutral rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Dana currently has a consensus rating of Hold and a consensus price target of $23.50.
Dana (NYSE DAN) traded down 1.01% during midday trading on Friday, reaching $23.49. The company had a trading volume of 1,808,124 shares. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 4.98 and a beta of 1.49. The firm has a 50-day moving average price of $23.26 and a 200-day moving average price of $20.66. Dana has a 52 week low of $13.63 and a 52 week high of $25.10.
Dana (NYSE:DAN) last issued its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.17. Dana had a return on equity of 30.79% and a net margin of 10.80%. The business had revenue of $18.40 million during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business posted $0.53 EPS. Dana’s revenue for the quarter was down 98.8% compared to the same quarter last year. Analysts expect that Dana will post $2.33 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Wednesday, August 9th. Dana’s dividend payout ratio (DPR) is presently 5.10%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Dana by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,055 shares of the auto parts company’s stock valued at $113,000 after buying an additional 520 shares during the period. Ledyard National Bank bought a new position in Dana during the first quarter valued at approximately $168,000. ETRADE Capital Management LLC bought a new position in Dana during the second quarter valued at approximately $205,000. US Bancorp DE increased its position in Dana by 15.0% in the first quarter. US Bancorp DE now owns 9,476 shares of the auto parts company’s stock valued at $183,000 after buying an additional 1,233 shares during the period. Finally, Riverhead Capital Management LLC increased its position in Dana by 70.4% in the second quarter. Riverhead Capital Management LLC now owns 10,056 shares of the auto parts company’s stock valued at $225,000 after buying an additional 4,156 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.
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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