Danaos Corp. (DAC) Shares Up 8.8%
Danaos Corp. (NYSE:DAC) shares shot up 8.8% during trading on Wednesday . The stock traded as high as $2.99 and last traded at $2.96, with a volume of 70,446 shares traded. The stock had previously closed at $2.72.
Several research firms recently commented on DAC. Jefferies Group reiterated a “hold” rating and set a $5.00 price objective on shares of Danaos Corp. in a research note on Friday, May 6th. Zacks Investment Research raised shares of Danaos Corp. from a “strong sell” rating to a “strong-buy” rating and set a $3.50 target price on the stock in a research report on Wednesday.
The company has a market cap of $360.08 million and a P/E ratio of 2.75. The firm has a 50 day moving average of $3.25 and a 200-day moving average of $4.11.
Danaos Corp. (NYSE:DAC) last announced its earnings results on Wednesday, May 4th. The company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The company had revenue of $137.47 million for the quarter, compared to analysts’ expectations of $138.95 million. During the same period last year, the business earned $0.28 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts expect that Danaos Corp. will post $1.59 earnings per share for the current year.
A hedge fund recently raised its stake in Danaos Corp. stock. Neuberger Berman Group LLC increased its stake in Danaos Corp. (NYSE:DAC) by 1.7% during the fourth quarter, Holdings Channel reports. The firm owned 1,714,762 shares of the company’s stock after buying an additional 28,995 shares during the period. Neuberger Berman Group LLC owned about 1.56% of Danaos Corp. worth $10,271,000 at the end of the most recent quarter.
Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company.
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