Danaos (NYSE:DAC) Issues Quarterly Earnings Results, Misses Expectations By $0.36 EPS

Danaos (NYSE:DAC) issued its earnings results on Tuesday. The shipping company reported $6.50 earnings per share for the quarter, missing analysts’ consensus estimates of $6.86 by ($0.36), Zacks reports. The business had revenue of $256.18 million during the quarter, compared to the consensus estimate of $251.16 million. Danaos had a return on equity of 16.68% and a net margin of 56.16%. During the same quarter in the previous year, the firm posted $7.26 earnings per share.

Danaos Stock Down 0.1 %

DAC stock opened at $85.96 on Friday. The stock has a 50-day simple moving average of $82.85 and a two-hundred day simple moving average of $85.13. Danaos has a twelve month low of $66.45 and a twelve month high of $98.25. The firm has a market capitalization of $1.67 billion, a PE ratio of 2.97 and a beta of 1.47. The company has a quick ratio of 4.04, a current ratio of 3.93 and a debt-to-equity ratio of 0.19.

Danaos Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 25th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.96%. This is a positive change from Danaos’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, November 25th. Danaos’s payout ratio is currently 11.07%.

Analyst Ratings Changes

A number of brokerages have commented on DAC. Jefferies Financial Group reissued a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research note on Tuesday. StockNews.com lowered Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday.

Danaos Company Profile

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.