Analysts predict that Dana Inc (NYSE:DAN) will post sales of $1.77 billion for the current quarter, according to Zacks. Three analysts have issued estimates for Dana’s earnings, with estimates ranging from $1.74 billion to $1.82 billion. Dana reported sales of $1.45 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.1%. The company is expected to announce its next earnings results before the market opens on Tuesday, February 13th.
According to Zacks, analysts expect that Dana will report full-year sales of $1.77 billion for the current year. For the next fiscal year, analysts anticipate that the company will report sales of $7.63 billion per share. Zacks’ sales calculations are an average based on a survey of analysts that follow Dana.
Several research firms have weighed in on DAN. Zacks Investment Research upgraded Dana from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, February 6th. Guggenheim restated a “buy” rating and set a $40.00 target price on shares of Dana in a research note on Wednesday, January 10th. Barclays restated a “hold” rating and set a $32.00 target price on shares of Dana in a research note on Tuesday, January 9th. ValuEngine downgraded shares of Dana from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, Deutsche Bank upped their price target on shares of Dana from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, November 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $29.40.
Dana declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 17th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In related news, CEO James Kevin Kamsickas sold 57,003 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $31.01, for a total value of $1,767,663.03. Following the completion of the sale, the chief executive officer now directly owns 96,312 shares in the company, valued at $2,986,635.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aziz Aghili sold 12,624 shares of the stock in a transaction 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 completion of the sale, the insider now owns 18,024 shares of the company’s stock, valued at $596,954.88. The disclosure for this sale can be found here. Insiders have sold 150,533 shares of company stock valued at $4,873,626 over the last quarter. Company insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in Dana by 47.3% in the second quarter. Royal Bank of Canada now owns 208,043 shares of the auto parts company’s stock valued at $4,646,000 after purchasing an additional 66,827 shares during the period. Mackenzie Financial Corp increased its holdings in Dana by 458.2% in the third quarter. Mackenzie Financial Corp now owns 350,010 shares of the auto parts company’s stock valued at $9,786,000 after purchasing an additional 287,310 shares during the period. JPMorgan Chase & Co. increased its holdings in Dana by 8.4% in the third quarter. JPMorgan Chase & Co. now owns 1,506,002 shares of the auto parts company’s stock valued at $42,198,000 after purchasing an additional 117,044 shares during the period. Blue Rock Advisors LLC acquired a new stake in Dana in the third quarter valued at $983,000. Finally, Legal & General Group Plc increased its holdings in Dana by 6.9% in the third quarter. Legal & General Group Plc now owns 250,426 shares of the auto parts company’s stock valued at $7,001,000 after purchasing an additional 16,060 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “$1.77 Billion in Sales Expected for Dana Inc (DAN) This Quarter” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2018/02/13/1-77-billion-in-sales-expected-for-dana-inc-dan-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Dana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dana and related companies with MarketBeat.com's FREE daily email newsletter.