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

Dana Incorporated (NYSE:DAN) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Investors of record on Friday, November 8th will be given a dividend of 0.10 per share by the auto parts company on Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, November 8th.

Dana has raised its dividend payment by an average of 58.7% annually over the last three years. Dana has a dividend payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Dana to earn $1.63 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 24.5%.

Dana Price Performance

NYSE:DAN opened at $10.30 on Friday. Dana has a 12-month low of $9.16 and a 12-month high of $15.07. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 114.44, a price-to-earnings-growth ratio of 0.62 and a beta of 2.28. The company’s 50-day moving average is $10.58 and its two-hundred day moving average is $11.84. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 1.55.

Dana (NYSE:DAN) last announced its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.76 billion. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Research analysts expect that Dana will post 0.95 EPS for the current year.

Wall Street Analysts Forecast Growth

DAN has been the topic of several recent analyst reports. UBS Group reduced their target price on Dana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. StockNews.com cut shares of Dana from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on shares of Dana from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $12.00 price target on shares of Dana in a research note on Tuesday, September 10th. Finally, Barclays lowered their price objective on shares of Dana from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.50.

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.