Fintel reports that on July 20, 2023, JP Morgan maintained coverage of Dana (NYSE:DAN) with a Overweight recommendation.
Analyst Price Forecast Suggests 10.60% Downside
As of July 6, 2023, the average one-year price target for Dana is 16.66. The forecasts range from a low of 15.15 to a high of $18.90. The average price target represents a decrease of 10.60% from its latest reported closing price of 18.64.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dana is 10,599MM, an increase of 2.70%. The projected annual non-GAAP EPS is 1.77.
Dana Declares $0.10 Dividend
On April 26, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of May 12, 2023 received the payment on June 2, 2023. Previously, the company paid $0.10 per share.
At the current share price of $18.64 / share, the stock's dividend yield is 2.15%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.27%, the lowest has been 1.44%, and the highest has been 3.37%. The standard deviation of yields is 0.46 (n=187).
The current dividend yield is 0.27 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.25. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 632 funds or institutions reporting positions in Dana. This is a decrease of 9 owner(s) or 1.40% in the last quarter. Average portfolio weight of all funds dedicated to DAN is 0.17%, a decrease of 4.83%. Total shares owned by institutions decreased in the last three months by 2.64% to 165,130K shares. 
The put/call ratio of DAN is 0.46, indicating a bullish outlook.
What are Other Shareholders Doing?
Icahn Carl C holds 14,287K shares representing 9.90% ownership of the company. No change in the last quarter.
Invesco holds 5,958K shares representing 4.13% ownership of the company. In it's prior filing, the firm reported owning 6,003K shares, representing a decrease of 0.76%. The firm decreased its portfolio allocation in DAN by 91.30% over the last quarter.
Alliancebernstein holds 5,560K shares representing 3.85% ownership of the company. In it's prior filing, the firm reported owning 5,726K shares, representing a decrease of 2.98%. The firm decreased its portfolio allocation in DAN by 22.17% over the last quarter.
Pzena Investment Management holds 5,033K shares representing 3.49% ownership of the company. In it's prior filing, the firm reported owning 5,207K shares, representing a decrease of 3.47%. The firm decreased its portfolio allocation in DAN by 6.24% over the last quarter.
Nomura Holdings holds 4,991K shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 5,237K shares, representing a decrease of 4.93%. The firm decreased its portfolio allocation in DAN by 38.78% over the last quarter.
Dana Background Information
(This description is provided by the company.)
Dana is a world leader in providing power-conveyance and energy-management solutions that are engineered to improve the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment. Enabling the propulsion of conventional, hybrid, and electric-powered vehicles, Dana equips its customers with critical drive and motion systems; electrodynamic technologies; and thermal, sealing, and digital solutions. Based in Maumee, Ohio, USA, the company reported sales of $8.6 billion in 2019 with 36,000 associates in 34 countries across six continents. Founded in 1904, Dana has been recognized by Forbes magazine as a World's Best Employer with a high-performance culture that focuses on its people and has earned recognition globally as a top employer.
Additional reading:
- DANA FINANCING LUXEMBOURG S.À R.L., Issuer DANA INCORPORATED, Guarantor COMPUTERSHARE TRUST COMPANY, N.A., Trustee ELAVON FINANCIAL SERVICES DAC, Paying Agent, Registrar and Transfer Agent 8.500% Senior Notes due 2031 Dated as of May 24, 2023 TABLE O
- Dana Launches €425 Million Senior Notes Offering
- Dana Prices €425 Million Senior Notes Offering
- Dana Incorporated Reports 2023 First-quarter Financial Results with Record Sales and Higher Profit
- Amendment No. 6 to Credit and Guaranty Agreement, dated as of March 14, 2023, among Dana Incorporated, Dana International Luxembourg S.à r.l., the guarantors party thereto, Citibank, N.A. as administrative agent and collateral agent, and the lenders party thereto.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
