Danaos (NYSE:DAC) Posts Quarterly Earnings Results, Beats Estimates By $1.32 EPS

by · The Cerbat Gem

Danaos (NYSE:DAC – Get Free Report) posted its earnings results on Monday. The shipping company reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.40 by $1.32, Zacks reports. Danaos had a net margin of 47.45% and a return on equity of 13.31%.

Danaos Price Performance

Shares of NYSE DAC traded down $0.96 during mid-day trading on Monday, reaching $133.67. The company’s stock had a trading volume of 92,765 shares, compared to its average volume of 84,844. The stock has a 50-day moving average of $116.54 and a two-hundred day moving average of $104.49. The stock has a market capitalization of $2.43 billion, a P/E ratio of 4.99 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.23 and a current ratio of 3.28. Danaos has a 1-year low of $82.75 and a 1-year high of $135.21.

Analyst Ratings Changes

A number of equities analysts have weighed in on DAC shares. Freedom Capital upgraded shares of Danaos to a “hold” rating in a research report on Tuesday, March 10th. Fearnley Fonds upgraded shares of Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $105.00.

View Our Latest Stock Analysis on DAC

Institutional Investors Weigh In On Danaos

A number of hedge funds have recently modified their holdings of the business. Ion Asset Management Ltd. raised its position in shares of Danaos by 15.5% in the second quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock valued at $56,428,000 after buying an additional 87,614 shares during the last quarter. ION Fund Management Ltd acquired a new stake in shares of Danaos in the fourth quarter valued at about $39,538,000. Millennium Management LLC raised its position in shares of Danaos by 161.8% in the third quarter. Millennium Management LLC now owns 133,401 shares of the shipping company’s stock valued at $11,981,000 after buying an additional 82,450 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Danaos by 13.8% in the fourth quarter. JPMorgan Chase & Co. now owns 111,750 shares of the shipping company’s stock valued at $10,525,000 after buying an additional 13,571 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Danaos by 58.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 106,089 shares of the shipping company’s stock valued at $9,991,000 after buying an additional 38,958 shares during the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Danaos Company Profile

(Get Free Report)

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.

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