Zacks: Danaos Corp. (NYSE:DAC) Receives Average Recommendation of “Hold” from Analysts
Danaos Corp. (NYSE:DAC) has received a consensus broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation.
Analysts have set a twelve-month consensus price objective of $4.75 for the company and are anticipating that the company will post $0.38 EPS for the current quarter, according to Zacks. Zacks has also assigned Danaos Corp. an industry rank of 227 out of 265 based on the ratings given to its competitors.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised 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. Jefferies Group reissued a “hold” rating on shares of Danaos Corp. in a research note on Monday, August 1st.
Danaos Corp. (NYSE:DAC) traded up 1.1897% during trading on Wednesday, hitting $2.9345. The stock had a trading volume of 12,189 shares. The firm has a market cap of $322.21 million, a PE ratio of 2.3457 and a beta of 1.07. Danaos Corp. has a 52 week low of $2.70 and a 52 week high of $6.64. The company’s 50-day moving average is $3.51 and its 200 day moving average is $3.68.
Danaos Corp. (NYSE:DAC) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. Danaos Corp. had a return on equity of 21.29% and a net margin of 24.43%. The company earned $137 million during the quarter, compared to the consensus estimate of $135.57 million. During the same period last year, the business earned $0.35 EPS. The business’s quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts expect that Danaos Corp. will post $1.56 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. FCA Corp TX increased its position in shares of Danaos Corp. by 188.3% in the second quarter. FCA Corp TX now owns 43,245 shares of the company’s stock valued at $118,000 after buying an additional 28,245 shares in the last quarter. BlackRock Institutional Trust Company N.A. acquired a new position in shares of Danaos Corp. during the first quarter valued at approximately $122,000. Renaissance Technologies LLC acquired a new position in shares of Danaos Corp. during the first quarter valued at approximately $128,000. Spark Investment Management LLC increased its position in shares of Danaos Corp. by 71.6% in the first quarter. Spark Investment Management LLC now owns 35,700 shares of the company’s stock valued at $135,000 after buying an additional 14,900 shares in the last quarter. Finally, Acrospire Investment Management LLC acquired a new position in shares of Danaos Corp. during the first quarter valued at approximately $253,000. 2.21% of the stock is currently owned by institutional investors.
Danaos Corp. Company Profile
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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