Danaos (NYSE:DAC) Releases Earnings Results, Misses Expectations By $0.02 EPS

Danaos (NYSE:DAC) issued its earnings results on Monday. The shipping company reported $6.50 EPS for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.02), Zacks reports. Danaos had a return on equity of 16.68% and a net margin of 56.16%.

Danaos Stock Up 3.9 %

DAC opened at $84.13 on Wednesday. The business’s 50-day simple moving average is $79.22 and its 200-day simple moving average is $81.47. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. Danaos has a one year low of $69.33 and a one year high of $98.25. The stock has a market capitalization of $1.63 billion, a P/E ratio of 2.91 and a beta of 1.42.

Danaos Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a $0.85 dividend. The ex-dividend date is Monday, February 24th. This represents a $3.40 dividend on an annualized basis and a yield of 4.04%. Danaos’s dividend payout ratio (DPR) is presently 11.76%.

Analyst Ratings Changes

A number of brokerages have commented on DAC. StockNews.com cut Danaos from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research report on Tuesday.

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.