Danaos Co. (NYSE:DAC - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday after the company announced better than expected quarterly earnings. The stock has a 200-day moving average of $81.49 and traded as high as $81.64. Danaos shares last traded at $80.95, with a volume of 155,020 shares traded.
The shipping company reported $6.50 EPS for the quarter, missing analysts' consensus estimates of $6.52 by ($0.02). Danaos had a return on equity of 16.68% and a net margin of 56.16%.
Danaos Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.05%. Danaos's dividend payout ratio (DPR) is currently 11.76%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. Jefferies Financial Group reissued a "buy" rating and set a $105.00 price target on shares of Danaos in a report on Tuesday. StockNews.com cut Danaos from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th.
Check Out Our Latest Report on Danaos
Hedge Funds Weigh In On Danaos
Institutional investors and hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of Danaos in the fourth quarter valued at about $32,000. Farther Finance Advisors LLC acquired a new stake in shares of Danaos in the third quarter valued at about $53,000. nVerses Capital LLC increased its stake in shares of Danaos by 75.0% in the third quarter. nVerses Capital LLC now owns 700 shares of the shipping company's stock valued at $61,000 after buying an additional 300 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Danaos in the fourth quarter valued at about $87,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Danaos by 37.7% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company's stock valued at $117,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 19.01% of the company's stock.
Danaos Trading Up 1.8 %
The firm has a 50 day moving average price of $79.33 and a two-hundred day moving average price of $81.49. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 2.90 and a beta of 1.42. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19.
About Danaos
(
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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.
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