Danaos (NYSE:DAC) Posts Quarterly Earnings Results, Misses Expectations By $0.26 EPS

Danaos (NYSE:DAC) posted its quarterly earnings data on Monday. The shipping company reported $6.78 earnings per share for the quarter, missing analysts’ consensus estimates of $7.04 by ($0.26), Yahoo Finance reports. Danaos had a return on equity of 18.99% and a net margin of 59.04%. The business had revenue of $246.31 million during the quarter, compared to analyst estimates of $238.83 million. During the same period in the previous year, the business earned $7.14 EPS.

Danaos Stock Performance

Danaos stock traded down $0.05 during mid-day trading on Wednesday, hitting $80.70. The company had a trading volume of 69,495 shares, compared to its average volume of 106,750. The company has a current ratio of 3.89, a quick ratio of 3.75 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 2.74 and a beta of 1.51. The company’s fifty day moving average is $89.66 and its 200-day moving average is $80.46. Danaos has a 12-month low of $62.37 and a 12-month high of $98.25.

Danaos Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, August 20th. This represents a $3.20 dividend on an annualized basis and a yield of 3.97%. Danaos’s dividend payout ratio is currently 10.86%.

Analysts Set New Price Targets

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

Danaos Company Profile

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.