Danaos Corp. (DAC) Trading Up 8.8%
Danaos Corp. (NYSE:DAC)’s share price was up 8.8% on Wednesday . The company traded as high as $2.99 and last traded at $2.96, with a volume of 70,446 shares. The stock had previously closed at $2.72.
Separately, Jefferies Group reaffirmed a “hold” rating and issued a $5.00 price target on shares of Danaos Corp. in a report on Friday, May 6th.
The firm has a 50-day moving average price of $3.25 and a 200-day moving average price of $4.13. The firm has a market capitalization of $323.85 million and a P/E ratio of 2.48.
Danaos Corp. (NYSE:DAC) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company earned $137.47 million during the quarter, compared to the consensus estimate of $138.95 million. Danaos Corp.’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. Equities analysts forecast 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 increased its position in shares of 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.