Danaos (NYSE:DAC) Reaches New 52-Week Low - What's Next?

Shares of Danaos Co. (NYSE:DAC - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $68.51 and last traded at $69.45, with a volume of 25587 shares traded. The stock had previously closed at $73.57.

Wall Street Analysts Forecast Growth

DAC has been the topic of a number of research reports. StockNews.com upgraded Danaos from a "hold" rating to a "buy" rating in a research report on Monday, March 10th. Jefferies Financial Group restated a "buy" rating and issued a $105.00 price objective on shares of Danaos in a research note on Tuesday, February 11th.

Danaos Stock Up 7.3 %

The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $79.62 and a two-hundred day simple moving average of $80.96. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 2.75 and a beta of 1.32.

Danaos (NYSE:DAC - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.52 by ($0.02). Danaos had a return on equity of 16.03% and a net margin of 49.81%. Equities analysts expect that Danaos Co. will post 29.21 EPS for the current year.

Remove Ads

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $3.40 annualized dividend and a yield of 4.77%. Danaos's dividend payout ratio is 13.12%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in Danaos by 7,700.0% in the 1st quarter. GAMMA Investing LLC now owns 390 shares of the shipping company's stock valued at $30,000 after purchasing an additional 385 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Danaos in the fourth quarter valued at $32,000. New Age Alpha Advisors LLC bought a new position in shares of Danaos in the fourth quarter valued at about $87,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in Danaos by 37.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company's stock worth $117,000 after buying an additional 400 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Danaos by 340.1% during the 4th quarter. Allworth Financial LP now owns 1,941 shares of the shipping company's stock worth $149,000 after acquiring an additional 1,500 shares during the last quarter. 19.01% of the stock is owned by institutional investors and hedge funds.

Danaos Company Profile

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.