Danaos (NYSE:DAC) Hits New 52-Week High at $80.68

Danaos Co. (NYSE:DAC) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $80.68 and last traded at $80.60, with a volume of 14325 shares traded. The stock had previously closed at $80.11.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “buy” rating and set a $90.00 target price on shares of Danaos in a report on Wednesday, February 14th.

Danaos Stock Up 2.2 %

The business’s 50 day simple moving average is $73.37 and its 200 day simple moving average is $72.22. The company has a market capitalization of $1.61 billion, a PE ratio of 2.86 and a beta of 1.30. The company has a quick ratio of 2.84, a current ratio of 2.98 and a debt-to-equity ratio of 0.13.

Danaos (NYSE:DAC) last posted its quarterly earnings results on Tuesday, February 13th. The shipping company reported $6.99 earnings per share for the quarter, missing the consensus estimate of $7.70 by ($0.71). Danaos had a net margin of 59.19% and a return on equity of 19.94%. The business had revenue of $249.32 million for the quarter, compared to analyst estimates of $254.37 million. As a group, analysts forecast that Danaos Co. will post 31.34 EPS for the current year.

Danaos Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Wednesday, February 28th were given a $0.80 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $3.20 dividend on an annualized basis and a yield of 3.86%. Danaos’s payout ratio is 11.05%.

Hedge Funds Weigh In On Danaos

A number of hedge funds have recently modified their holdings of DAC. Qube Research & Technologies Ltd increased its position in Danaos by 100.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 45,854 shares of the shipping company’s stock worth $3,036,000 after purchasing an additional 22,970 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Danaos by 14.2% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,600 shares of the shipping company’s stock worth $118,000 after buying an additional 199 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Danaos in the third quarter worth about $1,711,000. Acadian Asset Management LLC boosted its stake in shares of Danaos by 23.2% during the 3rd quarter. Acadian Asset Management LLC now owns 386,855 shares of the shipping company’s stock worth $25,600,000 after acquiring an additional 72,910 shares in the last quarter. Finally, DGS Capital Management LLC increased its holdings in shares of Danaos by 30.0% during the 4th quarter. DGS Capital Management LLC now owns 12,939 shares of the shipping company’s stock valued at $958,000 after acquiring an additional 2,989 shares during the last quarter. 19.01% of the stock is owned by institutional investors and hedge funds.

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.