Dana Incorporated (NYSE:DAN) Plans $0.10 Quarterly Dividend

Dana Incorporated (NYSE:DAN) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Friday, May 10th will be given a dividend of 0.10 per share by the auto parts company on Friday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Thursday, May 9th.

Dana has raised its dividend payment by an average of 58.7% per year over the last three years. Dana has a payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Dana to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 25.2%.

Dana Stock Performance

NYSE DAN opened at $13.40 on Wednesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.60 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $12.41 and its 200-day simple moving average is $12.99. The company has a market cap of $1.94 billion, a PE ratio of 148.91, a price-to-earnings-growth ratio of 0.41 and a beta of 2.46. Dana has a 1-year low of $11.10 and a 1-year high of $19.75.

Dana (NYSE:DAN) last released its earnings results on Tuesday, April 30th. The auto parts company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Dana had a return on equity of 5.42% and a net margin of 0.12%. Dana’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. As a group, equities research analysts anticipate that Dana will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on DAN shares. Barclays lowered their price objective on Dana from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. JPMorgan Chase & Co. cut their price objective on shares of Dana from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 26th. Wells Fargo & Company dropped their price target on shares of Dana from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 21st. Finally, Oppenheimer lifted their price target on shares of Dana from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.67.

About Dana

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.