Danaos (NYSE:DAC) Sets New 12-Month High - Here's Why

Key Points

• Danaos shares reached a new 52-week high of $153.21, trading about 1.3% higher, supported by an average analyst rating of “Strong Buy” after recent upgrades.
• The company reported strong quarterly results, with EPS of $7.29 and revenue of $274.37 million, exceeding analyst estimates of $6.80 and $258.27 million, respectively.
• Danaos paid a quarterly dividend of $0.90 per share, or $3.60 annualized, representing a 2.4% yield; hedge funds and institutional investors own approximately 19.01% of the stock.

Shares of Danaos Corporation (NYSE:DAC - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $153.21 and last traded at $153.0690, with a volume of 81137 shares trading hands. The stock had previously closed at $151.09.

Analyst Ratings Changes

DAC has been the subject of several recent research reports. Freedom Capital raised Danaos from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Danaos from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has an average rating of "Strong Buy".

Danaos Trading Up 1.3%

The company has a debt-to-equity ratio of 0.29, a current ratio of 9.30 and a quick ratio of 9.15. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 5.18 and a beta of 0.89. The business's 50-day moving average price is $136.54 and its two-hundred day moving average price is $125.87.

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

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Tuesday, July 21st were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, July 21st. Danaos's payout ratio is currently 12.18%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. ION Fund Management Ltd acquired a new position in Danaos during the 4th quarter worth $39,538,000. Ion Asset Management Ltd. raised its stake in shares of Danaos by 15.5% in the 2nd quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company's stock valued at $56,428,000 after purchasing an additional 87,614 shares in the last quarter. Millennium Management LLC lifted its position in shares of Danaos by 161.8% during the third 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 during the last quarter. Renaissance Technologies LLC lifted its position in shares of Danaos by 117.1% during the first quarter. Renaissance Technologies LLC now owns 83,800 shares of the shipping company's stock worth $9,439,000 after purchasing an additional 45,200 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Danaos by 58.0% in the fourth 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.

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