Danaos (NYSE:DAC) Rating Lowered to “Hold” at StockNews.com

Danaos (NYSE:DAC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research note on Tuesday.

Danaos Trading Up 4.2 %

NYSE:DAC opened at $86.13 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.04 and a current ratio of 4.18. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 2.98 and a beta of 1.47. Danaos has a 52 week low of $64.96 and a 52 week high of $98.25. The firm has a 50-day moving average price of $82.71 and a two-hundred day moving average price of $85.13.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.86 by ($0.36). The firm had revenue of $256.18 million during the quarter, compared to analysts’ expectations of $251.16 million. Danaos had a net margin of 56.16% and a return on equity of 17.00%. During the same quarter last year, the business posted $7.26 EPS. On average, equities analysts expect that Danaos will post 28.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its position in shares of Danaos by 32.5% during the 1st quarter. Russell Investments Group Ltd. now owns 38,758 shares of the shipping company’s stock valued at $2,819,000 after acquiring an additional 9,506 shares during the period. Acadian Asset Management LLC grew its position in shares of Danaos by 41.3% during the 1st quarter. Acadian Asset Management LLC now owns 591,001 shares of the shipping company’s stock valued at $42,647,000 after acquiring an additional 172,832 shares during the period. BNP Paribas Financial Markets grew its position in shares of Danaos by 88.4% during the 1st quarter. BNP Paribas Financial Markets now owns 18,961 shares of the shipping company’s stock valued at $1,369,000 after acquiring an additional 8,897 shares during the period. Gordian Capital Singapore Pte Ltd grew its position in shares of Danaos by 17,600,000.0% during the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock valued at $16,255,000 after acquiring an additional 176,000 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Danaos by 55.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 24,694 shares of the shipping company’s stock valued at $1,783,000 after acquiring an additional 8,839 shares during the period. 19.01% of the stock is owned by institutional investors.

About Danaos

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.