Danaos (NYSE:DAC) Issues Quarterly Earnings Results, Beats Estimates By $0.49 EPS

Key Points

• Danaos reported quarterly EPS of $7.29, beating analysts’ consensus estimate of $6.80 by $0.49. The company posted a 49.85% net margin and 13.18% return on equity.
• Shares rose 0.3% to $142.08, near the company’s 52-week high, while Danaos maintained strong liquidity with current and quick ratios of 8.66 and 8.40, respectively.
• Danaos paid a quarterly dividend of $0.90 per share, equivalent to an annualized $3.60 dividend and a 2.5% yield. Analysts collectively rate the stock “Buy,” although their consensus price target of $105 is below the current share price.

Danaos (NYSE:DAC - Get Free Report) announced its quarterly earnings results on Monday. The shipping company reported $7.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.80 by $0.49, Zacks reports. Danaos had a net margin of 49.85% and a return on equity of 13.18%.

Danaos Trading Up 0.3%

Shares of DAC traded up $0.45 during trading hours on Monday, hitting $142.08. 107,715 shares of the stock traded hands, compared to its average volume of 89,345. The company has a current ratio of 8.66, a quick ratio of 8.40 and a debt-to-equity ratio of 0.26. Danaos has a 1-year low of $83.56 and a 1-year high of $143.48. The firm has a market capitalization of $2.59 billion, a PE ratio of 5.01 and a beta of 0.89. The business has a fifty day moving average of $129.30 and a 200-day moving average of $119.19.

Danaos Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DAC shares. Fearnley Fonds upgraded shares of Danaos from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Weiss Ratings upgraded Danaos from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $105.00.

Institutional Trading of Danaos

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its stake in shares of Danaos by 3.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,671 shares of the shipping company's stock valued at $440,000 after purchasing an additional 165 shares during the last quarter. State Street Corp lifted its holdings in Danaos by 2.4% in the fourth quarter. State Street Corp now owns 15,761 shares of the shipping company's stock valued at $1,484,000 after buying an additional 372 shares during the period. Kestra Advisory Services LLC acquired a new position in Danaos in the fourth quarter valued at approximately $43,000. Royal Bank of Canada boosted its stake in Danaos by 443.1% in the fourth quarter. Royal Bank of Canada now owns 869 shares of the shipping company's stock valued at $82,000 after acquiring an additional 709 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Danaos during the 2nd quarter worth $64,000. 19.01% of the stock is owned by institutional investors.

About Danaos

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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