Danaos (NYSE:DAC) Sets New 1-Year High at $80.68

Danaos Co. (NYSE:DAC)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $80.68 and last traded at $80.60, with a volume of 14325 shares. The stock had previously closed at $80.11.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “buy” rating and issued a $90.00 price target on shares of Danaos in a research report on Wednesday, February 14th.

Danaos Stock Performance

The stock’s 50-day moving average price is $72.97 and its 200-day moving average price is $72.08. The company has a current ratio of 2.98, a quick ratio of 2.84 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.57 billion, a P/E ratio of 2.77 and a beta of 1.30.

Danaos (NYSE:DAC) last posted its quarterly earnings results on Tuesday, February 13th. The shipping company reported $6.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.70 by ($0.71). The business had revenue of $249.32 million during the quarter, compared to the consensus estimate of $254.37 million. Danaos had a return on equity of 19.94% and a net margin of 59.19%. As a group, equities analysts expect that Danaos Co. will post 31.34 EPS for the current year.

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 28th were given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $3.20 annualized dividend and a yield of 3.97%. Danaos’s dividend payout ratio is presently 11.05%.

Institutional Trading of Danaos

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Atria Wealth Solutions Inc. raised its holdings in shares of Danaos by 4.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,911 shares of the shipping company’s stock worth $290,000 after purchasing an additional 150 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Danaos by 45.2% in the 3rd quarter. Signaturefd LLC now owns 524 shares of the shipping company’s stock worth $35,000 after purchasing an additional 163 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Danaos by 79.3% during the 4th quarter. Parallel Advisors LLC now owns 382 shares of the shipping company’s stock worth $28,000 after acquiring an additional 169 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Danaos by 14.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,600 shares of the shipping company’s stock worth $118,000 after acquiring an additional 199 shares during the last quarter. Finally, Blue Trust Inc. acquired a new position in shares of Danaos in the 4th quarter worth $25,000. 19.01% of the stock is currently owned by institutional investors.

About Danaos

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.