conix
4年前
Short Interest in Dana Incorporated (NYSE:DAN) Grows By 44.9%
Posted by ABMN Staff on Feb 1st, 2021
Dana logoDana Incorporated (NYSE:DAN) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 3,680,000 shares, an increase of 44.9% from the December 31st total of 2,540,000 shares. Based on an average daily trading volume, of 1,310,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 2.6% of the company’s shares are short sold.
Shares of DAN opened at $19.36 on Monday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.37 and a current ratio of 1.96. Dana has a twelve month low of $4.22 and a twelve month high of $22.69. The firm’s 50 day moving average price is $20.34 and its two-hundred day moving average price is $15.91. The firm has a market cap of $2.80 billion, a P/E ratio of -387.12, a PEG ratio of 1.36 and a beta of 2.60.
In other news, CAO James D. Kellett sold 1,800 shares of Dana stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $17.98, for a total transaction of $32,364.00. Following the completion of the sale, the chief accounting officer now owns 2,755 shares in the company, valued at approximately $49,534.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert D. Pyle sold 33,535 shares of Dana stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $17.57, for a total transaction of $589,209.95. Following the transaction, the insider now directly owns 57,070 shares in the company, valued at approximately $1,002,719.90. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Crescent Capital Consulting LLC bought a new stake in shares of Dana in the fourth quarter worth $58,000. Guinness Atkinson Asset Management Inc lifted its position in shares of Dana by 54.9% in the third quarter. Guinness Atkinson Asset Management Inc now owns 4,880 shares of the auto parts company’s stock worth $60,000 after purchasing an additional 1,730 shares in the last quarter. American National Bank bought a new stake in shares of Dana in the third quarter worth $61,000.
Nisa Investment Advisors LLC lifted its position in shares of Dana by 122.5% in the third quarter. Nisa Investment Advisors LLC now owns 6,720 shares of the auto parts company’s stock worth $83,000 after purchasing an additional 3,700 shares in the last quarter.
Finally, Meeder Asset Management Inc. lifted its position in shares of Dana by 10.9% in the third quarter. Meeder Asset Management Inc. now owns 9,830 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 965 shares in the last quarter. 94.29% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on DAN shares. Royal Bank of Canada raised shares of Dana from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $13.00 to $18.00 in a research note on Thursday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Dana from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, January 20th.
Bank of America lowered shares of Dana from a “buy” rating to a “neutral” rating in a research note on Monday, January 11th. Zacks Investment Research raised shares of Dana from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, December 29th. Finally, KeyCorp lifted their price target on shares of Dana from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, January 25th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.44.
conix
4年前
Results: Dana Incorporated Exceeded Expectations And The Consensus Has Updated Its Estimates
Oct 30, 2020 2:13AM EDT
Dana Incorporated (NYSE:DAN) just released its quarterly report and things are looking bullish. It was overall a positive result, with revenues beating expectations by 9.8% to hit US$2.0b. Dana also reported a statutory profit of US$0.31, which was an impressive 59% above what the analysts had forecast. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year. earnings-and-revenue-growthNYSE:DAN Earnings and Revenue Growth October 30th 2020
Taking into account the latest results, the most recent consensus for Dana from eight analysts is for revenues of US$8.07b in 2021 which, if met, would be a solid 16% increase on its sales over the past 12 months. Statutory earnings per share are predicted to shoot up 1,819% to US$1.86. In the lead-up to this report, the analysts had been modelling revenues of US$7.92b and earnings per share (EPS) of US$1.77 in 2021. So the consensus seems to have become somewhat more optimistic on Dana's earnings potential following these results.
The analysts have been lifting their price targets on the back of the earnings upgrade, with the consensus price target rising 11% to US$19.44. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic Dana analyst has a price target of US$22.00 per share, while the most pessimistic values it at US$17.00. The narrow spread of estimates could suggest that the business' future is relatively easy to value, or thatthe analysts have a strong view on its prospects.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. The analysts are definitely expecting Dana's growth to accelerate, with the forecast 16% growth ranking favourably alongside historical growth of 7.5% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 12% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Dana to grow faster than the wider industry.
The Bottom Line
The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards Dana following these results. Fortunately, they also reconfirmed their revenue numbers, suggesting sales are tracking in line with expectations - and our data suggests that revenues are expected to grow faster than the wider industry. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving. [t][/t]
conix
4年前
Dana saw Q3 sequential revenue growth of 85%, reinstates FY2020 outlook
Oct. 28, 2020 8:16 AM ET|About: Dana Incorporated (DAN)|By: Niloofer Shaikh, SA News Editor
Dana (NYSE:DAN) reports revenue declined 7.9% in Q3, primarily attributable to weaker end-market demand resulting from the global pandemic shutdown and eventual restart in June.
Sales grew 85% Q/Q, due to increased demand as customers rapidly resumed production after the pandemic related restrictions were lifted.
Revenue by segment: Light Vehicle: $913M (-1.8%); Commercial Vehicle: $314M (-21.1%); Off-Highway: $507M (-12.9%); Power Technologies: $260M (+2.4%).
Adjusted EBITDA slipped 19.6% to $201M.
Adjusted free cash flow expanded 108.8% to $261M.
The company has acquired a non-controlling stake in Pi Innovo LLC, a leader in embedded software solutions and electronics control units for the light vehicle, commercial vehicle, and off-highway markets.
"We were very pleased to see such a rapid recovery in global vehicle demand during the third quarter," said Jonathan Collins, Dana's executive vice president and chief financial officer. "The improving business conditions across all of our global end markets have enabled us to reinstate our revised, full-year financial targets. Dana remains financially strong, and we are well-positioned to capitalize on the strengthening of our businesses through the remainder of this year and into next year."
FY2020 Guidance: Sales: $6.65B to $6.95B; Adjusted EBITDA: $530M to $590M; Adjusted EBITDA margin: ~11.8%; Adjusted EPS: $0.35 to $0.55; Operating cash flow: ~5% of sales; Adjusted free cash flow: ~1% of sales.
conix
5年前
Dana was the recipient of a large growth in short interest in the month of December.
As of December 31st, there was short interest totalling 4,520,000 shares, a growth of 5.1% from the December 15th total of 4,300,000 shares. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is currently 3.8 days. Currently, 3.2% of the shares of the company are sold short.
conix
5年前
Dana was the recipient of a significant growth in short interest in December. As of December 13th, there was short interest totalling 4,300,000 shares, a growth of 6.4% from the November 28th total of 4,040,000 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is presently 3.6 days.
conix
5年前
Dana: Shifting Into High Gear
Dec. 12, 2019 7:19 PM ET
Michael A. Gayed, CFA
Summary
Dana Inc. has made acquisitions of electric vehicle technology companies to give it an industry leading position.
Dana will start a 3-year plan to synthesize all these acquired technologies and have a fully electric power-train system.
Dana pays a solid dividend and looks ready to increase it.
Looking for a helping hand in the market? Members of The Lead-Lag Report get exclusive ideas and guidance to navigate any climate. Get started today »
What's behind you doesn't matter. - Enzo Ferrari
Every morning, people around the world get in their vehicle, start their engine, and go about their day. There is not much thought put into the parts of the vehicle that keep it running smoothly until the day comes when the vehicle won't work. Dana Incorporation (DAN) is a leading manufacturer of axles, driveshafts, and transmissions. They are rapidly moving into the electrified vehicle market. With a recent acquisition, they are now the only supplier with full electric propulsion design, engineering, and manufacturing capabilities. DAN has taken some much-needed steps to secure their future success, and now is the opportunity to get into a growing company.
Dana Inc. recently bought Nordsea Motors Inc., a Canadian company focused on design and integration of electric powertrain system. This purchase completes the missing pieces in Dana's electrification plan. In 2019, Dana has made three acquisitions, all of which were focused on the electric vehicle market. They have a 3-year plan starting in 2020 to synthesize all these new technologies and to have a complete e-Powertrain system in place. They already have a $200 million backlog of sales for their electric systems. Dana has reached into every vehicle market with their electric systems - cars, light trucks, heavy trucks, construction equipment, and agricultural vehicles. This is the future of the vehicle market, and Dana has made the choice to lead the way.
With all these acquisitions and the build-out of their electrification unit, it has cost Dana in the short term. Their profit margin declined from 12.4% in the 2nd quarter to 11.6% in the 3rd quarter, due to the added costs. The acquisitions did help fuel sales growth for the most recent quarter which offset a decline in end-market sales of heavy vehicles. The heavy vehicle market has been the biggest drag on sales. Sales in this area are down 2% compared to 3rd quarter 2018 and earnings fell 1.3%.
Another positive metric for Dana Inc. is the amount of free cash flow they are producing. Now that many of the one-time costs are behind them from the acquisitions and pension adjustments, they should be able to generate a tremendous amount of free cash flow to use to grow their business and return to shareholders. During the second quarter, free cash flow was negative because of a large pension contribution but came roaring back in the 3rd quarter to $123 million and is expected to hit almost $200 million for 2019. In order to stay ahead of the pack in electrification, Dana will need to continue generating free cash flow to fund more acquisitions and develop new technologies.
Given Dana's global presence, they have also faced currency headwinds this year. With the stronger dollar, it has mostly hurt translation of their European sales. Of Dana's Off-Highway Drive sales, 69% are from Europe and over 40% of Power Technologies come from Europe. But as noted in the Lead-Lag Report, "December has seen steady declines in the dollar index indicating that any positive momentum it has been building could be fizzling out." Any weakening of the US dollar will help Dana's bottom line, which I expect to see in 4th quarter results.
Dana pays a solid dividend of $0.10 per share for a 2.29% yield. The dividend has remained steady for the past two years. Dana's 5-year historical cash dividend payout ratio is 34.5%. Dana's current payout ratio of 25.1% is well below their historical rate. If free cash flow continues to grow, I'd expect to see an increase in the dividend in 2020.
If you are looking for a solid company that can innovate to stay at the top of their industry, then look no further than Dana Inc. Any pullback in the general market makes for a good opportunity to add Dana to your portfolio.
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