Danaos (NYSE:DAC) Releases Quarterly Earnings Results, Beats Expectations By $1.32 EPS

Danaos (NYSE:DAC) announced its quarterly earnings data on Monday. The shipping company reported $6.72 earnings per share for the quarter, topping the consensus estimate of $5.40 by $1.32, Zacks reports. Danaos had a return on equity of 13.31% and a net margin of 47.45%.

Danaos Price Performance

Shares of NYSE:DAC traded down $0.96 during midday 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. Danaos has a fifty-two week low of $82.75 and a fifty-two week high of $135.21. The company 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 current ratio of 3.28 and a quick ratio of 3.23. The business’s fifty day simple moving average is $116.54 and its 200-day simple moving average is $104.49.

Analyst Upgrades and Downgrades

DAC has been the topic of several recent research reports. Weiss Ratings raised Danaos from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday. Freedom Capital raised Danaos to a “hold” rating in a report on Tuesday, March 10th. Finally, Fearnley Fonds raised Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $105.00.

Institutional Trading of Danaos

A number of hedge funds and other institutional investors have recently made changes to their positions in DAC. State of Tennessee Department of Treasury bought a new stake in shares of Danaos during the fourth quarter worth $407,000. XTX Topco Ltd bought a new stake in shares of Danaos during the fourth quarter worth $1,993,000. Quadrature Capital Ltd raised its position in shares of Danaos by 138.9% during the fourth quarter. Quadrature Capital Ltd now owns 13,556 shares of the shipping company’s stock worth $1,277,000 after acquiring an additional 7,882 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Danaos during the fourth quarter worth $255,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Danaos during the fourth quarter worth $464,000. 19.01% of the stock is currently owned by institutional investors and hedge funds.

About Danaos

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.