Danaos (NYSE:DAC) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Danaos Corporation (NYSE:DAC) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $97.95 and traded as high as $114.73. Danaos shares last traded at $113.77, with a volume of 86,405 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DAC shares. Freedom Capital upgraded Danaos to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Danaos in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Danaos presently has an average rating of “Moderate Buy” and an average target price of $105.00.

Danaos Trading Up 1.9%

The business’s 50 day simple moving average is $107.23 and its two-hundred day simple moving average is $97.95. The stock has a market cap of $2.07 billion, a P/E ratio of 4.25 and a beta of 0.98. The company has a quick ratio of 3.23, a current ratio of 3.28 and a debt-to-equity ratio of 0.23.

Danaos (NYSE:DAC) last announced its quarterly earnings results on Monday, February 9th. The shipping company reported $7.14 EPS for the quarter, beating analysts’ consensus estimates of $6.46 by $0.68. Danaos had a return on equity of 13.31% and a net margin of 47.45%.The company had revenue of $266.27 million during the quarter, compared to analysts’ expectations of $253.00 million. As a group, analysts expect that Danaos Corporation will post 29.21 EPS for the current year.

Danaos Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, February 23rd. Danaos’s payout ratio is 13.44%.

Institutional Investors Weigh In On Danaos

Several hedge funds have recently added to or reduced their stakes in DAC. Aristides Capital LLC grew its stake in shares of Danaos by 4.1% in the third quarter. Aristides Capital LLC now owns 2,972 shares of the shipping company’s stock worth $267,000 after purchasing an additional 116 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Danaos by 3.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,671 shares of the shipping company’s stock worth $440,000 after purchasing an additional 165 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Danaos by 7.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,980 shares of the shipping company’s stock worth $268,000 after buying an additional 207 shares during the period. SG Americas Securities LLC grew its position in shares of Danaos by 11.1% in the 2nd quarter. SG Americas Securities LLC now owns 2,727 shares of the shipping company’s stock valued at $235,000 after buying an additional 272 shares during the last quarter. Finally, R Squared Ltd grew its position in shares of Danaos by 12.0% in the 4th quarter. R Squared Ltd now owns 2,824 shares of the shipping company’s stock valued at $266,000 after buying an additional 303 shares during the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.

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.