Boston, MA 10\/30\/2013 (wallstreetpr) –\u00a0<\/b>Automobile parts maker\u00a0Dana Holding Corporation (NYSE:DAN) shares dropped by around 14.8% in Tuesday\u2019s trading to $19.28 by market close, in the wake of lower earnings reported for its third quarter. The parts maker reported earnings of 47 cents a share on revenue of $1.67 billion, disappointing analysts, who had expected earnings of 54 cents on revenue of $1.78 billion. The negative effects of currency exchanges and one-time charges also contributed to shrinking sales revenue which fell $79 million lower than a year earlier.<\/p>\n
Owing to receding sales of heavy commercial vehicles in North America and bad market conditions, especially, the impact of weak construction and mining demands for off-highway construction equipments, the automobile parts manufacturer lowered its full-year projections. The company now forecasts full-year revenues of $6.7 billion and earnings of $1.76 a share, excluding share repurchase expenses to be expected in the fourth quarter. This belies analyst predictions, who anticipate earnings of $1.89 a share on revenue of $7.01 billion.<\/p>\n
Meanwhile, Dana Holding investors were presented with new options for trading this week, with June 2014 set for expiration. The put contract at the price of $23.00 comes with a current bid of $2.20, according to analysts, who opine that investors are likely to collect premium at this rate, putting the cost basis of the shares at $20.80 before broker commissions, which represents a more lucrative alternative to paying the current $23.25 a share.<\/p>\n
Experts remain confident that Dana will soon being outperforming other important stocks notwithstanding the recent dismal figures, partly because of the industry major\u2019s diversified and lucrative portfolio coupled with its multitude of strengths, such as its mostly firm financial standing with reasonable debt levels by most measures, impressive long-term stock price performance, growth in earnings per share, good cash flow from operations and attractive valuation levels.<\/p>\n
Dana\u2019s shares dropped in October 29 trading to $19.28 by market close. After-hours trading saw a small 0.62% rise to $19.40, after falling from an all-time after-hours high of $19.61 for the day.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 10\/30\/2013 (wallstreetpr) –\u00a0Automobile parts maker\u00a0Dana Holding Corporation (NYSE:DAN) shares dropped by around 14.8% in Tuesday\u2019s trading to $19.28 by market close, in the […]<\/p>\n","protected":false},"author":9,"featured_media":11953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[3965,3964,3962,3963],"stock_ticker":[],"class_list":["post-11949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-dan","tag-dana-holding-corporation","tag-dana-holding-corporation-nysedan","tag-nysedan","entry"],"acf":[],"yoast_head":"\n