Shares of Danaos Corporation (NYSE:DAC - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $125.87 and traded as high as $152.00. Danaos shares last traded at $150.99, with a volume of 102,229 shares changing hands.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on DAC shares. Weiss Ratings raised shares of Danaos from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. Freedom Capital upgraded shares of Danaos from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Danaos has an average rating of "Strong Buy".
View Our Latest Research Report on Danaos
Danaos Stock Performance
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 company has a market cap of $2.75 billion, a price-to-earnings ratio of 5.11 and a beta of 0.87. The firm has a 50 day simple moving average of $136.54 and a 200-day simple moving average of $125.87.
Danaos (NYSE:DAC - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The shipping company reported $7.29 EPS for the quarter, beating the consensus estimate of $6.80 by $0.49. The business had revenue of $274.37 million for the quarter, compared to analyst estimates of $258.27 million. Danaos had a return on equity of 13.20% and a net margin of 51.26%.
Danaos Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Tuesday, July 21st were given a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, July 21st. This represents a $3.60 dividend on an annualized basis and a yield of 2.4%. Danaos's dividend payout ratio is presently 12.18%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Midwest Professional Planners LTD. raised its stake in shares of Danaos by 225.1% in the 2nd quarter. Midwest Professional Planners LTD. now owns 16,855 shares of the shipping company's stock valued at $2,063,000 after acquiring an additional 11,670 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Danaos in the 2nd quarter worth approximately $1,519,000. Lazard Asset Management LLC boosted 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 worth $1,781,000 after purchasing an additional 10,654 shares during the period. Renaissance Technologies LLC boosted its position 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 worth $9,439,000 after purchasing an additional 45,200 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Danaos by 6.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 76,890 shares of the shipping company's stock valued at $8,661,000 after purchasing an additional 4,737 shares during the last quarter. Hedge funds and other institutional investors own 19.01% of the company's stock.
About Danaos
(
Get Free Report)
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.
Further Reading
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