Danaos (NYSE:DAC) Reaches New 12-Month High – Should You Buy?

Danaos Corporation (NYSE:DAC) shares hit a new 52-week high during trading on Friday . The stock traded as high as $102.23 and last traded at $101.3350, with a volume of 33077 shares. The stock had previously closed at $100.82.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $105.00.

Danaos Trading Up 0.1%

The stock’s 50-day simple moving average is $96.41 and its two-hundred day simple moving average is $93.01. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.62 and a quick ratio of 4.51. The firm has a market capitalization of $1.92 billion, a P/E ratio of 4.03 and a beta of 1.03.

Danaos (NYSE:DAC) last announced its quarterly earnings data on Monday, November 17th. The shipping company reported $6.75 EPS for the quarter, missing the consensus estimate of $7.17 by ($0.42). Danaos had a net margin of 45.16% and a return on equity of 13.49%. The firm had revenue of $260.73 million for the quarter, compared to the consensus estimate of $257.63 million. During the same quarter in the previous year, the business earned $6.50 earnings per share. Equities research analysts expect that Danaos Corporation will post 29.21 EPS for the current year.

Danaos Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, December 2nd were issued a dividend of $0.90 per share. This is a boost from Danaos’s previous quarterly dividend of $0.85. This represents a $3.60 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, December 2nd. Danaos’s payout ratio is 14.37%.

Institutional Investors Weigh In On Danaos

A number of institutional investors have recently added to or reduced their stakes in DAC. Assetmark Inc. raised its position in shares of Danaos by 15,500.0% during the second quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock valued at $40,000 after buying an additional 465 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Danaos during the second quarter valued at $64,000. Tower Research Capital LLC TRC bought a new stake in Danaos in the 2nd quarter valued at $67,000. TD Waterhouse Canada Inc. bought a new stake in Danaos in the 2nd quarter valued at $107,000. Finally, State of Wyoming boosted its holdings in shares of Danaos by 205.3% during the 2nd quarter. State of Wyoming now owns 2,128 shares of the shipping company’s stock valued at $184,000 after purchasing an additional 1,431 shares during the last quarter. 19.01% of the stock is owned by hedge funds and other institutional investors.

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.