Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2022, it had a fleet of 71 containerships aggregating 436,589 twenty-foot equivalent units in capacity. The company was formerly known as Danaos Holdings Limited and changed its name to Danaos Corporation in October 2005. Danaos Corporation was founded in 1963 and is based in Piraeus, Greece.
Wall Street Analysts Forecast Growth
DAC has been the topic of several research reports. Clarkson Capital reissued a "buy" rating on shares of Danaos in a research note on Tuesday, June 14th. Jefferies Financial Group assumed coverage on shares of Danaos in a research note on Wednesday, July 20th. They set a "buy" rating and a $100.00 target price on the stock. Finally, StockNews.com raised shares of Danaos from a "hold" rating to a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $95.00.
Danaos Stock Performance
DAC Stock remained flat at $75.97 during trading on Monday. 14,934 shares of the company's stock were exchanged, compared to its average volume of 437,654. The company has a quick ratio of 2.82, a current ratio of 2.86 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $68.75 and a 200 day simple moving average of $83.09. Danaos has a one year low of $55.71 and a one year high of $107.47. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 2.17 and a beta of 1.55.
Danaos (NYSE:DAC - Get Rating) last announced its quarterly earnings results on Monday, May 16th. The shipping company reported $11.36 earnings per share for the quarter, beating analysts' consensus estimates of $6.11 by $5.25. Danaos had a net margin of 81.06% and a return on equity of 29.36%. The business had revenue of $229.90 million during the quarter, compared to analysts' expectations of $212.86 million. During the same period last year, the business earned $2.63 earnings per share. On average, research analysts anticipate that Danaos will post 27.58 EPS for the current year.
Danaos Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Shareholders of record on Wednesday, August 17th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Tuesday, August 16th. Danaos's dividend payout ratio is presently 8.57%.