Danaos (NYSE:DAC) Releases Quarterly Earnings Results, Beats Expectations By $5.25 EPS

Danaos (NYSE:DACGet Rating) released its earnings results on Monday. The shipping company reported $11.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.11 by $5.25, MarketWatch Earnings reports. Danaos had a net margin of 138.14% and a return on equity of 26.55%. The business had revenue of $229.90 million for the quarter, compared to analyst estimates of $212.86 million. During the same quarter in the previous year, the business earned $2.63 earnings per share.

Danaos stock traded up $2.95 during mid-day trading on Friday, hitting $81.63. 489,593 shares of the company traded hands, compared to its average volume of 498,962. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.94 and a current ratio of 2.86. Danaos has a one year low of $58.00 and a one year high of $107.47. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 1.55 and a beta of 1.46. The stock has a fifty day moving average price of $90.53 and a 200-day moving average price of $83.68.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 8th. Investors of record on Friday, May 27th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, May 26th. Danaos’s dividend payout ratio (DPR) is 5.69%.

DAC has been the subject of a number of research analyst reports. StockNews.com downgraded Danaos from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Jefferies Financial Group increased their price objective on Danaos from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 8th. Finally, Zacks Investment Research lowered shares of Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.67.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its stake in Danaos by 1.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,894 shares of the shipping company’s stock worth $813,000 after purchasing an additional 117 shares during the last quarter. Westhampton Capital LLC boosted its stake in Danaos by 7.4% in the third quarter. Westhampton Capital LLC now owns 3,065 shares of the shipping company’s stock worth $251,000 after buying an additional 210 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Danaos during the first quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Danaos during the first quarter worth approximately $31,000. Finally, Shilanski & Associates Inc. lifted its holdings in shares of Danaos by 6.9% in the 4th quarter. Shilanski & Associates Inc. now owns 5,153 shares of the shipping company’s stock worth $385,000 after acquiring an additional 331 shares during the last quarter. 67.61% of the stock is currently owned by institutional investors and hedge funds.

About Danaos (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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Earnings History for Danaos (NYSE:DAC)

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