Dana (DAN) Posts Earnings Results, Beats Expectations By $0.09 EPS
Dana (NYSE:DAN) released its quarterly earnings results on Tuesday. The auto parts company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.09, Bloomberg Earnings reports. Dana had a return on equity of 29.34% and a net margin of 10.27%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. Dana updated its FY18 guidance to $2.60-2.90 EPS.
Dana (DAN) opened at $28.93 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.72 and a quick ratio of 1.17. The stock has a market cap of $4,380.90, a P/E ratio of 6.05 and a beta of 1.66. Dana has a 12-month low of $17.53 and a 12-month high of $35.27.
In other Dana news, insider Aziz Aghili sold 12,624 shares of Dana stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $33.12, for a total value of $418,106.88. Following the transaction, the insider now owns 18,024 shares in the company, valued at $596,954.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James Kevin Kamsickas sold 57,003 shares of Dana stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $31.01, for a total transaction of $1,767,663.03. Following the completion of the transaction, the chief executive officer now owns 96,312 shares in the company, valued at approximately $2,986,635.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,533 shares of company stock worth $4,873,626. 1.60% of the stock is currently owned by company insiders.
Dana declared that its board has initiated a stock buyback program on Wednesday, January 17th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
DAN has been the topic of several recent analyst reports. Zacks Investment Research cut Dana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. UBS Group boosted their target price on Dana from $24.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Barclays set a $28.00 target price on Dana and gave the stock a “hold” rating in a report on Friday, October 20th. FBR & Co reissued a “neutral” rating and set a $25.00 target price (up previously from $17.00) on shares of Dana in a report on Friday, October 27th. Finally, Buckingham Research boosted their target price on Dana from $25.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.91.
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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