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

Key Points

• Danaos shares reached a new 52-week high of $152.98, giving the company a market capitalization of approximately $2.77 billion.
• Analysts have become more bullish, with multiple firms upgrading the stock to “Strong Buy”; MarketBeat reports a consensus “Strong Buy” rating from three analysts.
• Danaos exceeded quarterly expectations, reporting $7.29 EPS and $274.37 million in revenue, while paying a quarterly dividend of $0.90 per share, equivalent to a 2.4% yield.

Shares of Danaos Corporation (NYSE:DAC - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $152.98 and last traded at $152.3410, with a volume of 157525 shares changing hands. The stock had previously closed at $150.50.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Fearnley Fonds upgraded Danaos from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Freedom Capital raised shares of Danaos from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Danaos from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Danaos has a consensus rating of "Strong Buy".

Danaos Price Performance

The company has a market capitalization of $2.77 billion, a P/E ratio of 5.16 and a beta of 0.89. 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's 50-day moving average is $133.70 and its 200-day moving average is $123.85.

Danaos (NYSE:DAC - Get Free Report) last issued its quarterly earnings results 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. 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 analyst estimates of $258.27 million.

Danaos Dividend Announcement

The business 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. This represents a $3.60 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, July 21st. Danaos's dividend payout ratio is presently 12.18%.

Institutional Investors Weigh In On Danaos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAC. Renaissance Technologies LLC raised its position in Danaos by 117.1% in the first quarter. Renaissance Technologies LLC now owns 83,800 shares of the shipping company's stock worth $9,439,000 after acquiring an additional 45,200 shares during the period. Lazard Asset Management LLC grew its position in shares of Danaos by 206.4% during the 1st 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 period. Shikiar Asset Management Inc. grew its position in shares of Danaos by 123.2% during the 1st quarter. Shikiar Asset Management Inc. now owns 14,285 shares of the shipping company's stock valued at $1,609,000 after acquiring an additional 7,885 shares during the period. Diversified Trust Co purchased a new stake in shares of Danaos during the 1st quarter worth approximately $498,000. Finally, Midwest Professional Planners LTD. purchased a new stake in shares of Danaos during the 4th quarter worth approximately $487,000. 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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