Danaos (NYSE:DAC) Share Price Passes Above Two Hundred Day Moving Average of $78.67

Danaos Co. (NYSE:DAC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $78.67 and traded as high as $92.85. Danaos shares last traded at $92.49, with a volume of 39,464 shares.

Analyst Ratings Changes

Separately, Jefferies Financial Group boosted their price target on Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th.

Danaos Trading Up 1.2 %

The stock’s fifty day simple moving average is $88.30 and its 200-day simple moving average is $78.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.89 and a quick ratio of 3.75. The firm has a market cap of $1.80 billion, a PE ratio of 3.14 and a beta of 1.51.

Danaos (NYSE:DAC) last released its earnings results on Tuesday, May 28th. The shipping company reported $7.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.71 by ($0.56). Danaos had a net margin of 59.04% and a return on equity of 18.99%. The firm had revenue of $253.45 million during the quarter. During the same quarter last year, the firm posted $7.14 earnings per share. On average, sell-side analysts forecast that Danaos Co. will post 29.18 earnings per share for the current year.

Danaos Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 11th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Tuesday, June 11th. Danaos’s payout ratio is 10.86%.

Institutional Investors Weigh In On Danaos

A number of large investors have recently bought and sold shares of the company. Qube Research & Technologies Ltd lifted its stake in Danaos by 100.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 45,854 shares of the shipping company’s stock valued at $3,036,000 after acquiring an additional 22,970 shares during the period. Lazard Asset Management LLC boosted its holdings in Danaos by 3.1% in the third quarter. Lazard Asset Management LLC now owns 87,538 shares of the shipping company’s stock valued at $5,796,000 after purchasing an additional 2,645 shares during the last quarter. Planned Solutions Inc. acquired a new stake in Danaos during the 4th quarter worth about $70,000. Blue Trust Inc. purchased a new position in shares of Danaos during the 4th quarter valued at about $25,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Danaos by 14.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,600 shares of the shipping company’s stock valued at $118,000 after buying an additional 199 shares during the period. Hedge funds and other 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.