Danaos Corp. (DAC) Trading Up 1.5%
Danaos Corp. (NYSE:DAC) was up 1.5% during trading on Friday . The company traded as high as $4.23 and last traded at $4.17, with a volume of 68,898 shares. The stock had previously closed at $4.11.
A number of equities research analysts have commented on DAC shares. Zacks Investment Research upgraded Danaos Corp. from a “strong sell” rating to a “strong-buy” rating and set a $3.50 price objective for the company in a research report on Wednesday, July 6th. Jefferies Group restated a “hold” rating and set a $5.00 price objective on shares of Danaos Corp. in a research report on Friday, May 6th.
The stock has a market capitalization of $457.79 million and a price-to-earnings ratio of 3.50. The stock’s 50 day moving average is $3.41 and its 200 day moving average is $4.08.
Danaos Corp. (NYSE:DAC) last released its earnings results on Wednesday, May 4th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $137.47 million for the quarter, compared to the consensus estimate of $138.95 million. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. Equities research analysts anticipate that Danaos Corp. will post $1.59 earnings per share for the current year.
An institutional investor recently raised its position in Danaos Corp. stock. Neuberger Berman Group LLC boosted its position in Danaos Corp. (NYSE:DAC) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.
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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