Danaos (NYSE:DAC) Hits New 12-Month High – Still a Buy?

Danaos Corporation (NYSE:DAC)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $102.23 and last traded at $101.3350, with a volume of 33077 shares. The stock had previously closed at $100.82.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Danaos in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $105.00.

Danaos Trading Down 0.1%

The firm’s 50-day moving average is $96.53 and its 200-day moving average is $93.12. The company has a current ratio of 4.62, a quick ratio of 4.51 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 4.02 and a beta of 1.03.

Danaos (NYSE:DAC) last released its quarterly earnings data on Monday, November 17th. The shipping company reported $6.75 earnings per share 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 business had revenue of $260.73 million for the quarter, compared to analyst estimates of $257.63 million. During the same quarter in the previous year, the company posted $6.50 EPS. As a group, sell-side analysts anticipate that Danaos Corporation will post 29.21 EPS for the current fiscal year.

Danaos Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd were issued a $0.90 dividend. The ex-dividend date was Tuesday, December 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Danaos’s previous quarterly dividend of $0.85. Danaos’s dividend payout ratio (DPR) is currently 14.37%.

Institutional Trading of Danaos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAC. Assetmark Inc. raised its stake in shares of Danaos by 15,500.0% in the second quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock worth $40,000 after purchasing an additional 465 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Danaos in the 2nd quarter valued at $64,000. Tower Research Capital LLC TRC bought a new position in Danaos during the 2nd quarter valued at $67,000. Farther Finance Advisors LLC lifted its stake in Danaos by 165.0% during the 4th quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 485 shares in the last quarter. Finally, TD Waterhouse Canada Inc. purchased a new position in Danaos during the 2nd quarter worth $107,000. 19.01% of the stock is owned by institutional investors.

Danaos Company Profile

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.