Danaos (NYSE:DAC) Issues Quarterly Earnings Results

Danaos (NYSE:DAC) announced its earnings results on Monday. The shipping company reported $7.29 EPS for the quarter, beating analysts’ consensus estimates of $6.80 by $0.49, Zacks reports. Danaos had a net margin of 51.26% and a return on equity of 13.42%. The firm had revenue of $274.37 million for the quarter, compared to analysts’ expectations of $258.27 million.

Danaos Stock Performance

Shares of DAC traded down $0.64 during trading hours on Wednesday, hitting $138.08. The stock had a trading volume of 38,453 shares, compared to its average volume of 89,691. Danaos has a 12 month low of $83.56 and a 12 month high of $143.48. The firm has a market capitalization of $2.51 billion, a PE ratio of 4.87 and a beta of 0.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.66 and a quick ratio of 8.40. The stock has a fifty day moving average price of $129.71 and a 200 day moving average price of $119.76.

Danaos Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Tuesday, July 21st were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, July 21st. Danaos’s dividend payout ratio (DPR) is 12.70%.

Institutional Investors Weigh In On Danaos

Hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC bought a new position in Danaos in the 4th quarter worth $43,000. Raymond James Financial Inc. purchased a new stake in shares of Danaos in the second quarter worth $64,000. Tower Research Capital LLC TRC bought a new stake in shares of Danaos during the 2nd quarter valued at $67,000. Royal Bank of Canada lifted its stake in shares of Danaos by 443.1% during the 4th quarter. Royal Bank of Canada now owns 869 shares of the shipping company’s stock valued at $82,000 after buying an additional 709 shares in the last quarter. Finally, Intesa Sanpaolo Wealth Management bought a new position in Danaos in the 4th quarter worth $88,000. Institutional investors own 19.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DAC. Weiss Ratings raised shares of Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

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.