Danaos (NYSE:DAC) Shares Cross Above 200 Day Moving Average of $78.67

Danaos Co. (NYSE:DACGet Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $78.67 and traded as high as $92.85. Danaos shares last traded at $92.49, with a volume of 39,464 shares trading hands.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group boosted their price objective on shares of Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th.

Check Out Our Latest Research Report on Danaos

Danaos Stock Up 1.2 %

The company has a quick ratio of 3.75, a current ratio of 3.89 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $88.30 and its 200 day simple moving average is $78.67. The firm has a market cap of $1.80 billion, a P/E ratio of 3.14 and a beta of 1.51.

Danaos (NYSE:DACGet Free Report) last released its quarterly earnings data on Tuesday, May 28th. The shipping company reported $7.15 earnings per share for the quarter, missing the consensus estimate of $7.71 by ($0.56). The company had revenue of $253.45 million during the quarter. Danaos had a net margin of 59.04% and a return on equity of 18.99%. During the same period in the prior year, the company earned $7.14 EPS. As a group, research analysts forecast that Danaos Co. will post 29.18 EPS for the current fiscal year.

Danaos Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 11th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $3.20 dividend on an annualized basis and a yield of 3.46%. Danaos’s dividend payout ratio (DPR) is presently 10.86%.

Hedge Funds Weigh In On Danaos

Large investors have recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC raised its stake in shares of Danaos by 40.9% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 36,418 shares of the shipping company’s stock worth $2,697,000 after purchasing an additional 10,577 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Danaos by 100.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 45,854 shares of the shipping company’s stock valued at $3,036,000 after buying an additional 22,970 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Danaos by 14.2% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,600 shares of the shipping company’s stock valued at $118,000 after acquiring an additional 199 shares in the last quarter. Chesapeake Capital Corp IL purchased a new position in Danaos during the 4th quarter worth $940,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Danaos by 35.5% in the 4th quarter. Quadrant Capital Group LLC now owns 4,399 shares of the shipping company’s stock worth $326,000 after acquiring an additional 1,152 shares in the last quarter. Institutional investors own 19.01% of the company’s stock.

Danaos Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for Danaos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Danaos and related companies with MarketBeat.com's FREE daily email newsletter.