Danaos (NYSE:DAC) Upgraded to “Hold” at Freedom Capital

Freedom Capital upgraded shares of Danaos (NYSE:DAC) to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Danaos in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

Danaos Trading Down 4.1%

Shares of DAC stock opened at $108.83 on Tuesday. Danaos has a 1-year low of $65.40 and a 1-year high of $118.82. The business has a 50-day moving average of $105.21 and a 200 day moving average of $96.94. The stock has a market capitalization of $1.98 billion, a PE ratio of 4.06 and a beta of 0.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.28 and a quick ratio of 3.23.

Danaos (NYSE:DAC) last issued its quarterly earnings data on Monday, February 9th. The shipping company reported $7.14 earnings per share for the quarter, beating analysts’ consensus estimates of $6.46 by $0.68. The business had revenue of $266.27 million for the quarter, compared to analysts’ expectations of $253.00 million. Danaos had a net margin of 47.45% and a return on equity of 13.31%. As a group, sell-side analysts anticipate that Danaos will post 29.21 earnings per share for the current year.

Danaos Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, February 23rd. Danaos’s dividend payout ratio (DPR) is currently 13.44%.

Institutional Investors Weigh In On Danaos

Several hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new stake in shares of Danaos in the fourth quarter worth $43,000. Raymond James Financial Inc. purchased a new position in Danaos in the second quarter worth $64,000. Tower Research Capital LLC TRC purchased a new position in shares of Danaos during the second quarter valued at approximately $67,000. Farther Finance Advisors LLC grew its holdings in shares of Danaos by 165.0% during the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock worth $73,000 after purchasing an additional 485 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Danaos by 443.1% during the fourth quarter. Royal Bank of Canada now owns 869 shares of the shipping company’s stock valued at $82,000 after acquiring an additional 709 shares during the period. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Danaos Company Profile

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.