Danaos Corporation (NYSE:DAC – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $138.18 and traded as high as $159.17. Danaos shares last traded at $157.63, with a volume of 161,874 shares traded.
Analyst Upgrades and Downgrades
DAC has been the subject of several recent research reports. Weiss Ratings upgraded shares of Danaos from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Freedom Capital raised Danaos from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating. According to MarketBeat.com, the company presently has an average rating of “Strong Buy”.
Danaos Stock Performance
The company has a debt-to-equity ratio of 0.29, a quick ratio of 9.15 and a current ratio of 9.30. The company has a market cap of $2.88 billion, a P/E ratio of 5.36 and a beta of 0.87. The stock’s fifty day moving average price is $156.75 and its two-hundred day moving average price is $138.32.
Danaos (NYSE:DAC – Get Free Report) last released its quarterly earnings data 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. The business had revenue of $274.37 million during the quarter, compared to analysts’ expectations of $258.27 million. Danaos had a net margin of 51.26% and a return on equity of 13.20%.
Danaos Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 22nd. Investors of record on Tuesday, October 13th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, October 13th. This is an increase from Danaos’s previous quarterly dividend of $0.90. Danaos’s payout ratio is 13.54%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in Danaos in the second quarter worth about $1,519,000. Renaissance Technologies LLC raised its stake in 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 acquiring an additional 45,200 shares during the period. Allianz Asset Management GmbH bought a new position in Danaos in the 2nd quarter worth approximately $1,716,000. Lazard Asset Management LLC lifted its position in shares of Danaos by 206.4% in the first quarter. Lazard Asset Management LLC now owns 15,815 shares of the shipping company’s stock worth $1,781,000 after buying an additional 10,654 shares in the last quarter. Finally, Midwest Professional Planners LTD. lifted its holdings 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 last quarter. Hedge funds and other institutional investors own 19.01% of the company’s stock.
About Danaos
Danaos Corporation (NYSE: DAC) is a maritime transportation company that owns and operates containerships used to transport containerized cargo around the world. The company primarily charters its vessels to major container shipping companies under a range of short- and long-term agreements.
Founded in 1972, Danaos has developed an international fleet serving major trade routes and ports across Asia, Europe, North America and other global markets. Its operations support the movement of manufactured goods, consumer products and other cargo transported in standardized shipping containers.
The company is headquartered in Piraeus, Greece, and is led by Chairman and Chief Executive Officer Dr.
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