According to Zacks, “Danaos Corporation is a leading international owner of containerships, chartering vessels to many of the world’s largest liner companies. Danaos was set up by Dimitri Coustas, an experienced shipping investor who had been active in the industry. Having consistently developed sea transport services throughout its history, Danaos has forged a reputation for high-quality operational support to liner companies and other charterers throughout the world. The Company currently have a fleet of containerships aggregating TEU, making us among the largest containership charter owners in the world. We charter our containerships to a geographically diverse group of liner companies, including most of the largest ones globally. Such customers include Maersk, COSCO, Hapag-Lloyd, CMA-CGM, Neptune Orient Lines, Yang Ming, China Shipping, Norasia Container Lines Ltd, Hyundai Merchant Marine Co., Wan-Hai Lines and Zim Israel Integrated Shipping Services Ltd. “
Several other equities analysts have also recently issued reports on DAC. StockNews.com upgraded shares of Danaos from a “hold” rating to a “buy” rating in a research note on Friday, April 1st. Jefferies Financial Group boosted their price target on shares of Danaos from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 8th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Danaos currently has an average rating of “Buy” and a consensus price target of $101.67.
Danaos (NYSE:DAC – Get Rating) last posted its earnings results on Monday, February 7th. The shipping company reported $6.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.01 by $0.09. Danaos had a net margin of 152.70% and a return on equity of 20.23%. The firm had revenue of $215.04 million during the quarter, compared to analysts’ expectations of $201.48 million. During the same period in the previous year, the business posted $2.29 EPS. Equities analysts expect that Danaos will post 30.17 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in shares of Danaos by 47.4% in the second quarter. Wells Fargo & Company MN now owns 7,660 shares of the shipping company’s stock valued at $588,000 after purchasing an additional 2,463 shares during the period. Morgan Stanley grew its holdings in shares of Danaos by 87.4% in the second quarter. Morgan Stanley now owns 42,498 shares of the shipping company’s stock valued at $3,264,000 after purchasing an additional 19,815 shares during the period. Navellier & Associates Inc. grew its holdings in shares of Danaos by 85.0% in the third quarter. Navellier & Associates Inc. now owns 20,857 shares of the shipping company’s stock valued at $1,708,000 after purchasing an additional 9,584 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Danaos in the third quarter valued at about $883,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Danaos in the third quarter valued at about $308,000. 62.45% of the stock is owned by institutional investors and hedge funds.
Danaos Company Profile (Get Rating)
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.
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