Danaos (NYSE:DAC) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Danaos' stock has crossed above its 200-day moving average, trading as high as $118 compared with a 200-day MA of $101.25 and last at about $114.98 on volume of 57,357 shares.
• Analyst consensus is a "Moderate Buy" (two Buys, one Hold) with an average price target of $105, which is below the current share price.
• The company reported an earnings beat (EPS $7.14 vs. $6.46 expected; revenue $266.27M vs. $253M) with a 47.45% net margin, and it pays a quarterly dividend of $0.90 (annualized $3.60, ~3.1% yield, 13.44% payout ratio).

Danaos Corporation (NYSE:DAC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $101.25 and traded as high as $118.00. Danaos shares last traded at $114.9760, with a volume of 57,357 shares.

Analysts Set New Price Targets

DAC has been the topic of a number of analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Danaos in a report on Wednesday, January 21st. Freedom Capital raised shares of Danaos to a "hold" rating in a report on Tuesday, March 10th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $105.00.

Danaos Price Performance

The business's fifty day simple moving average is $112.93 and its 200-day simple moving average is $101.25. The company has a current ratio of 3.28, a quick ratio of 3.23 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.09 billion, a P/E ratio of 4.29 and a beta of 0.95.

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

Danaos Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a $0.90 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $3.60 annualized dividend and a dividend yield of 3.1%. Danaos's dividend payout ratio is presently 13.44%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new position in shares of Danaos in the fourth quarter worth $43,000. Raymond James Financial Inc. bought a new position in shares of Danaos in the second quarter worth $64,000. Tower Research Capital LLC TRC bought a new position in shares of Danaos in the second quarter worth $67,000. Farther Finance Advisors LLC increased its holdings in shares of 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 period. Finally, Royal Bank of Canada increased its holdings in shares of Danaos by 443.1% in the fourth quarter. Royal Bank of Canada now owns 869 shares of the shipping company's stock worth $82,000 after purchasing an additional 709 shares during the period. 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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