Danaos (NYSE:DAC) Hits New 12-Month High After Earnings Beat

Key Points

• Danaos shares reached a new 52-week high of $143.48 after the company reported quarterly EPS of $7.29, beating estimates by $0.49, while revenue of $274.37 million also exceeded expectations.
• The company paid a quarterly dividend of $0.90 per share, equivalent to an annualized $3.60 dividend and a 2.5% yield, with a payout ratio of 12.70%.
• Analysts maintain a generally positive view, with Danaos holding an average “Buy” rating, although the average price target of $105 is below the current share price.

Danaos Corporation (NYSE:DAC - Get Free Report)'s share price reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $143.48 and last traded at $142.0780, with a volume of 107801 shares traded. The stock had previously closed at $141.63.

The shipping company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.80 by $0.49. The business had revenue of $274.37 million during the quarter, compared to the consensus estimate of $258.27 million. Danaos had a return on equity of 13.18% and a net margin of 49.85%.

Danaos Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Tuesday, July 21st were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, July 21st. Danaos's payout ratio is currently 12.70%.

Analysts Set New Price Targets

DAC has been the subject of several analyst reports. Weiss Ratings upgraded shares of Danaos from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. Fearnley Fonds upgraded shares of Danaos from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Danaos presently has an average rating of "Buy" and an average price target of $105.00.

Institutional Trading of Danaos

Hedge funds have recently bought and sold shares of the business. Shikiar Asset Management Inc. purchased a new stake in shares of Danaos during the 4th quarter worth approximately $603,000. Midwest Professional Planners LTD. bought a new stake in shares of Danaos in the 4th quarter worth approximately $487,000. Diversified Trust Co bought a new stake in shares of Danaos in the 1st quarter worth approximately $498,000. Renaissance Technologies LLC lifted its stake in Danaos by 117.1% in the first quarter. Renaissance Technologies LLC now owns 83,800 shares of the shipping company's stock valued at $9,439,000 after purchasing an additional 45,200 shares during the last quarter. Finally, Marnell Management LLC purchased a new position in Danaos in the fourth quarter valued at approximately $670,000. 19.01% of the stock is currently owned by institutional investors.

Danaos Trading Up 0.3%

The firm has a fifty day simple moving average of $129.53 and a two-hundred day simple moving average of $119.49. The firm has a market capitalization of $2.59 billion, a P/E ratio of 5.01 and a beta of 0.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.66 and a quick ratio of 8.40.

Danaos Company Profile

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company's core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.

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