Danaos (NYSE:DAC) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Danaos Corporation (NYSE:DAC)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $91.99 and traded as high as $96.90. Danaos shares last traded at $95.9180, with a volume of 58,152 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Danaos in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Danaos has an average rating of “Buy” and an average target price of $105.00.

Danaos Trading Up 1.7%

The stock has a market capitalization of $1.82 billion, a PE ratio of 3.83 and a beta of 1.03. The company has a quick ratio of 4.51, a current ratio of 4.62 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average price of $94.60 and a 200 day moving average price of $91.99.

Danaos (NYSE:DAC) last announced its quarterly earnings results on Monday, November 17th. The shipping company reported $6.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.17 by ($0.42). Danaos had a return on equity of 13.49% and a net margin of 45.16%.The company had revenue of $260.73 million for the quarter, compared to the consensus estimate of $257.63 million. During the same quarter last year, the company posted $6.50 EPS. Equities analysts expect that Danaos Corporation will post 29.21 EPS for the current fiscal year.

Danaos Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, December 2nd were issued a $0.90 dividend. This is an increase from Danaos’s previous quarterly dividend of $0.85. This represents a $3.60 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, December 2nd. Danaos’s dividend payout ratio is currently 14.37%.

Institutional Investors Weigh In On Danaos

Institutional investors have recently added to or reduced their stakes in the company. Morgan Dempsey Capital Management LLC increased its position in shares of Danaos by 41.7% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 4,564 shares of the shipping company’s stock valued at $394,000 after purchasing an additional 1,343 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Danaos by 183.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company’s stock worth $3,606,000 after buying an additional 29,921 shares during the last quarter. Aristides Capital LLC purchased a new position in shares of Danaos in the 2nd quarter worth about $246,000. Y Intercept Hong Kong Ltd bought a new position in Danaos during the second quarter valued at about $264,000. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in Danaos during the second quarter worth about $2,277,000. 19.01% of the stock is owned by institutional investors.

About Danaos

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.