Danaos (NYSE:DAC) Posts Earnings Results, Misses Estimates By $0.36 EPS

Danaos (NYSE:DAC) released its quarterly earnings results on Tuesday. The shipping company reported $6.50 earnings per share for the quarter, missing analysts’ consensus estimates of $6.86 by ($0.36), Zacks reports. Danaos had a net margin of 56.16% and a return on equity of 17.00%. The firm had revenue of $256.18 million for the quarter, compared to the consensus estimate of $251.16 million. During the same period in the previous year, the business earned $7.26 earnings per share.

Danaos Stock Performance

NYSE DAC traded up $3.33 during trading hours on Wednesday, reaching $86.02. 125,970 shares of the company were exchanged, compared to its average volume of 105,686. Danaos has a 1 year low of $64.96 and a 1 year high of $98.25. The business’s 50 day simple moving average is $82.65 and its 200-day simple moving average is $85.08. The company has a quick ratio of 4.04, a current ratio of 4.18 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.67 billion, a P/E ratio of 2.94 and a beta of 1.47.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DAC. Jefferies Financial Group reissued a “buy” rating and set a $105.00 price target on shares of Danaos in a research report on Tuesday. StockNews.com downgraded shares of Danaos from a “buy” rating to a “hold” rating in a report on Tuesday.

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.