Danaos (NYSE:DAC) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Danaos shares moved above their 200-day moving average, trading as high as $133.05 and last changing hands near $131.97, signaling a positive technical move for the stock.
• Wall Street sentiment remains constructive, with the stock carrying an average “Buy” rating and a consensus target price of $105, while recent analyst actions included upgrades from Weiss Ratings and Fearnley Fonds.
• The company reported better-than-expected quarterly results, posting EPS of $6.72 versus $5.86 expected and revenue of $253.7 million versus $242.2 million expected, and it also declared a $0.90 quarterly dividend.

Shares of Danaos Corporation (NYSE:DAC - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $117.09 and traded as high as $133.05. Danaos shares last traded at $131.9650, with a volume of 90,422 shares.

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Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DAC. Weiss Ratings upgraded Danaos from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, July 14th. Fearnley Fonds upgraded shares of Danaos from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $105.00.

Danaos Stock Performance

The business has a fifty day moving average price of $128.13 and a 200-day moving average price of $117.09. The company has a quick ratio of 8.40, a current ratio of 8.66 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.40 billion, a P/E ratio of 4.65 and a beta of 0.89.

Danaos (NYSE:DAC - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The shipping company reported $6.72 earnings per share for the quarter, beating the consensus estimate of $5.86 by $0.86. The firm had revenue of $253.70 million during the quarter, compared to analysts' expectations of $242.20 million. Danaos had a net margin of 49.85% and a return on equity of 13.18%.

Danaos Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Tuesday, July 21st will be paid a dividend of $0.90 per share. The ex-dividend date is Tuesday, July 21st. This represents a $3.60 dividend on an annualized basis and a yield of 2.7%. Danaos's payout ratio is currently 12.70%.

Institutional Trading of Danaos

Several large investors have recently modified their holdings of the company. Lazard Asset Management LLC increased its position in Danaos by 206.4% during the first quarter. Lazard Asset Management LLC now owns 15,815 shares of the shipping company's stock valued at $1,781,000 after acquiring an additional 10,654 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Danaos by 117.1% during the 1st 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 period. Public Employees Retirement System of Ohio increased its position in shares of Danaos by 18.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 12,415 shares of the shipping company's stock valued at $1,398,000 after purchasing an additional 1,976 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Danaos by 6.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 76,890 shares of the shipping company's stock worth $8,661,000 after purchasing an additional 4,737 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Danaos by 99.1% in the first quarter. Sei Investments Co. now owns 44,248 shares of the shipping company's stock worth $4,984,000 after buying an additional 22,028 shares during the last quarter. 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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