Danaos (NYSE:DAC) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Danaos Corporation (NYSE:DAC) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $117.09 and traded as high as $133.05. Danaos shares last traded at $131.9650, with a volume of 90,422 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DAC shares. Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Danaos currently has an average rating of “Buy” and an average target price of $105.00.

Danaos Stock Up 1.8%

The company has a current ratio of 8.66, a quick ratio of 8.40 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average price of $128.23 and a 200-day moving average price of $117.39. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 4.94 and a beta of 0.89.

Danaos (NYSE:DAC) last issued its quarterly earnings data on Monday, May 11th. The shipping company reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $0.86. Danaos had a net margin of 49.85% and a return on equity of 13.18%. The firm had revenue of $253.70 million for the quarter, compared to analysts’ expectations of $242.20 million.

Danaos Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Tuesday, July 21st will be given a $0.90 dividend. The ex-dividend date is Tuesday, July 21st. This represents a $3.60 annualized dividend and a dividend yield of 2.6%. Danaos’s dividend payout ratio is currently 12.70%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. ION Fund Management Ltd purchased a new stake in Danaos during the 4th quarter worth about $39,538,000. Ion Asset Management Ltd. raised its stake in Danaos by 15.5% in the 2nd quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock valued at $56,428,000 after purchasing an additional 87,614 shares during the last quarter. Millennium Management LLC lifted its holdings in Danaos by 161.8% in the 3rd quarter. Millennium Management LLC now owns 133,401 shares of the shipping company’s stock valued at $11,981,000 after purchasing an additional 82,450 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Danaos by 117.1% in the 1st quarter. Renaissance Technologies LLC now owns 83,800 shares of the shipping company’s stock valued at $9,439,000 after purchasing an additional 45,200 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Danaos by 58.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 106,089 shares of the shipping company’s stock worth $9,991,000 after purchasing an additional 38,958 shares during the last quarter. 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.