Danaos (NYSE:DAC – Get Free Report) issued its earnings results on Monday. The shipping company reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.40 by $1.32, Zacks reports. The company had revenue of $253.70 million for the quarter, compared to analyst estimates of $236.50 million. Danaos had a net margin of 49.85% and a return on equity of 13.38%.
Danaos Stock Down 1.1%
Shares of DAC traded down $1.50 on Wednesday, hitting $131.33. The company’s stock had a trading volume of 56,299 shares, compared to its average volume of 84,858. The firm’s fifty day moving average price is $116.83 and its 200-day moving average price is $104.82. Danaos has a fifty-two week low of $82.75 and a fifty-two week high of $135.21. The company has a quick ratio of 3.23, a current ratio of 3.28 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 4.66 and a beta of 0.90.
Danaos Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Tuesday, May 26th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, May 26th. Danaos’s payout ratio is 13.44%.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on DAC
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of DAC. ION Fund Management Ltd bought a new stake in shares of Danaos during the fourth quarter worth $39,538,000. Ion Asset Management Ltd. raised its holdings in shares of Danaos by 15.5% during the second quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock worth $56,428,000 after acquiring an additional 87,614 shares during the period. Millennium Management LLC raised its holdings 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 acquiring an additional 82,450 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Danaos by 58.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 106,089 shares of the shipping company’s stock worth $9,991,000 after acquiring an additional 38,958 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Danaos during the third quarter worth $2,541,000. 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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