Danaos Corp. (NYSE:DAC)’s share price fell 3.8% during mid-day trading on Wednesday . The stock traded as low as $4.24 and last traded at $4.28, with a volume of 147,173 shares traded. The stock had previously closed at $4.45.

Several brokerages have recently issued reports on DAC. Jefferies Group reaffirmed a “hold” rating and issued 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 price objective on the stock in a research note on Wednesday, July 6th.

The firm has a market cap of $476.45 million and a P/E ratio of 3.64. The stock has a 50-day moving average of $3.33 and a 200 day moving average of $4.09.

Danaos Corp. (NYSE:DAC) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The business earned $137.47 million during the quarter, compared to the consensus estimate of $138.95 million. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. Equities analysts expect that Danaos Corp. will post $1.59 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Danaos Corp. stock. Neuberger Berman Group LLC boosted its stake in Danaos Corp. (NYSE:DAC) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 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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