Danaos (NYSE:DAC) Reaches New 52-Week High - Time to Buy?

Key Points

• Danaos shares reached a new 52-week high of $145.32 and were last trading near $144.37, up from the prior close of $141.92.
• Analyst sentiment is strongly positive: three analysts rate the stock “Strong Buy,” while recent research firms upgraded their ratings.
• Danaos exceeded quarterly expectations with EPS of $7.29 versus $6.80 expected and revenue of $274.37 million versus $258.27 million forecast. The company also pays a quarterly dividend of $0.90 per share, representing a 2.5% yield.

Danaos Corporation (NYSE:DAC - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $145.32 and last traded at $144.3710, with a volume of 13135 shares. The stock had previously closed at $141.92.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Freedom Capital upgraded shares of Danaos from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Danaos from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. Finally, Fearnley Fonds raised shares of Danaos from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy".

Danaos Price Performance

The company has a current ratio of 9.30, a quick ratio of 9.15 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average of $131.56 and a 200 day moving average of $121.97. The firm has a market capitalization of $2.65 billion, a PE ratio of 4.94 and a beta of 0.89.

Danaos (NYSE:DAC - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The shipping company reported $7.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.80 by $0.49. The firm had revenue of $274.37 million for the quarter, compared to the consensus estimate of $258.27 million. Danaos had a net margin of 51.26% and a return on equity of 13.20%.

Danaos Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Tuesday, July 21st were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, July 21st. This represents a $3.60 annualized dividend and a yield of 2.5%. Danaos's payout ratio is 12.18%.

Institutional Investors Weigh In On Danaos

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAC. Kestra Advisory Services LLC purchased a new position in shares of Danaos in the 4th quarter worth approximately $43,000. Ascentis Independent Advisors bought a new stake in Danaos during the first quarter worth $56,000. Raymond James Financial Inc. bought a new stake in Danaos during the second quarter worth $64,000. Tower Research Capital LLC TRC purchased a new position in Danaos in the second quarter worth $67,000. Finally, Farther Finance Advisors LLC boosted its position in Danaos by 165.0% in the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company's stock worth $73,000 after purchasing an additional 485 shares during the last quarter. Hedge funds and other institutional investors own 19.01% of the company's stock.

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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