Royal Bank of Canada Issues Positive Forecast for Dana (NYSE:DAN) Stock Price

Dana (NYSE:DAN) had its price objective upped by Royal Bank of Canada from $20.00 to $24.00 in a research report report published on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the auto parts company’s stock.

Several other equities research analysts also recently issued reports on DAN. Wall Street Zen raised Dana from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Barclays raised their price target on Dana from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company raised their price target on Dana from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, UBS Group raised their price target on Dana from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Dana presently has an average rating of “Moderate Buy” and an average target price of $20.14.

Dana Price Performance

NYSE:DAN opened at $17.45 on Thursday. Dana has a 1-year low of $7.58 and a 1-year high of $18.03. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. The firm has a fifty day simple moving average of $14.52 and a 200 day simple moving average of $13.86. The stock has a market capitalization of $2.54 billion, a PE ratio of -44.74, a P/E/G ratio of 0.72 and a beta of 2.11.

Dana (NYSE:DAN) last announced its quarterly earnings results on Wednesday, April 30th. The auto parts company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). Dana had a negative net margin of 0.55% and a positive return on equity of 6.70%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the business earned $0.02 EPS. The company’s revenue for the quarter was down 14.0% compared to the same quarter last year. On average, research analysts expect that Dana will post 1.5 EPS for the current fiscal year.

Dana Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, May 31st. Stockholders of record on Saturday, May 10th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.29%. Dana’s dividend payout ratio is currently -166.67%.

Institutional Investors Weigh In On Dana

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Great Lakes Advisors LLC lifted its holdings in shares of Dana by 11.5% during the first quarter. Great Lakes Advisors LLC now owns 313,039 shares of the auto parts company’s stock worth $4,173,000 after buying an additional 32,241 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Dana by 27,790.5% in the first quarter. Jones Financial Companies Lllp now owns 85,345 shares of the auto parts company’s stock valued at $1,138,000 after purchasing an additional 85,039 shares in the last quarter. JB Capital Partners LP raised its stake in Dana by 1.1% in the first quarter. JB Capital Partners LP now owns 1,852,293 shares of the auto parts company’s stock valued at $24,524,000 after purchasing an additional 20,000 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in Dana in the first quarter valued at about $2,434,000. Finally, Cornerstone Investment Partners LLC acquired a new position in Dana in the first quarter valued at about $146,000. Institutional investors and hedge funds own 96.79% of the company’s stock.

Dana Company Profile

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.