Danaos (NYSE:DAC) Reaches New 52-Week High - Should You Buy?

Key Points

• Danaos (DAC) hit a new 52-week high, trading as high as $120.07 and last at $119.06 (up about 1.9%) on Monday.
• The company reported strong quarterly results—EPS $7.14 vs. $6.46 expected and revenue $266.3M vs. $253.0M—showing a 47.45% net margin, a low P/E of 4.5, and a 3.0% dividend yield.
• Analysts' consensus is a Moderate Buy with an average target of $105, while several large institutions (Ion, Millennium, JPMorgan, Goldman Sachs) have recently increased their positions.

Danaos Corporation (NYSE:DAC - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $120.07 and last traded at $119.06, with a volume of 14103 shares traded. The stock had previously closed at $117.38.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on DAC shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Danaos in a research note on Wednesday, January 21st. Freedom Capital raised Danaos to a "hold" rating in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $105.00.

Danaos Stock Up 1.9%

The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 4.50 and a beta of 0.95. The firm has a 50 day moving average price of $113.58 and a 200-day moving average price of $101.88. The company has a current ratio of 3.28, a quick ratio of 3.23 and a debt-to-equity ratio of 0.23.

Danaos (NYSE:DAC - Get Free Report) last posted its quarterly earnings data on Monday, February 9th. The shipping company reported $7.14 EPS for the quarter, topping analysts' consensus estimates of $6.46 by $0.68. The firm had revenue of $266.27 million during the quarter, compared to analysts' expectations of $253.00 million. Danaos had a return on equity of 13.31% and a net margin of 47.45%.

Danaos Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, February 23rd. Danaos's dividend payout ratio (DPR) is currently 13.44%.

Institutional Trading of Danaos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ion Asset Management Ltd. increased its position in Danaos by 15.5% during the 2nd quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company's stock worth $56,428,000 after purchasing an additional 87,614 shares in the last quarter. ION Fund Management Ltd purchased a new stake in Danaos during the 4th quarter worth about $39,538,000. Millennium Management LLC increased its position in Danaos by 161.8% during the 3rd quarter. Millennium Management LLC now owns 133,401 shares of the shipping company's stock worth $11,981,000 after purchasing an additional 82,450 shares in the last quarter. JPMorgan Chase & Co. increased its position in Danaos by 13.8% during the 4th quarter. JPMorgan Chase & Co. now owns 111,750 shares of the shipping company's stock worth $10,525,000 after purchasing an additional 13,571 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Danaos by 58.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 106,089 shares of the shipping company's stock worth $9,991,000 after purchasing an additional 38,958 shares in the last quarter. Hedge funds and other institutional investors own 19.01% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.