Danaos (NYSE:DAC) Upgraded at StockNews.com

StockNews.com upgraded shares of Danaos (NYSE:DAC) from a hold rating to a buy rating in a research report report published on Monday.

Separately, Jefferies Financial Group reiterated a “buy” rating and set a $105.00 price objective on shares of Danaos in a research report on Tuesday, February 11th.

Danaos Price Performance

NYSE DAC opened at $80.96 on Monday. Danaos has a 12 month low of $69.33 and a 12 month high of $98.25. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 3.12 and a beta of 1.41. The company’s 50 day moving average is $80.15 and its two-hundred day moving average is $81.32. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19.

Danaos (NYSE:DAC) last released its earnings results on Monday, February 10th. The shipping company reported $6.50 EPS for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.02). Danaos had a return on equity of 16.03% and a net margin of 49.81%. As a group, research analysts anticipate that Danaos will post 29.21 earnings per share for the current year.

Danaos Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Monday, February 24th. Danaos’s payout ratio is 13.12%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Oppenheimer & Co. Inc. bought a new stake in shares of Danaos in the 3rd quarter worth about $935,000. Corsair Capital Management L.P. purchased a new position in shares of Danaos during the 3rd quarter worth about $607,000. DGS Capital Management LLC boosted its stake in shares of Danaos by 71.6% during the 4th quarter. DGS Capital Management LLC now owns 23,945 shares of the shipping company’s stock worth $1,917,000 after purchasing an additional 9,994 shares during the period. Verition Fund Management LLC purchased a new position in shares of Danaos during the 3rd quarter worth about $205,000. Finally, State Street Corp boosted its stake in shares of Danaos by 2.3% during the 3rd quarter. State Street Corp now owns 24,098 shares of the shipping company’s stock worth $2,090,000 after purchasing an additional 547 shares during the period. Institutional investors own 19.01% of the company’s stock.

About Danaos

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.