Danaos Corp. (DAC) Stock Price Down 3.4%
Danaos Corp. (NYSE:DAC)’s share price traded down 3.4% during mid-day trading on Thursday . The company traded as low as $4.51 and last traded at $4.58, with a volume of 156,541 shares. The stock had previously closed at $4.74.
A number of research firms have recently weighed in on DAC. Zacks Investment Research raised Danaos Corp. from a “strong sell” rating to a “strong-buy” rating and set a $3.50 target price for the company in a research note on Wednesday, July 6th. Jefferies Group reissued a “hold” rating and issued a $5.00 target price on shares of Danaos Corp. in a research note on Friday, May 6th.
The company has a market capitalization of $502.80 million and a P/E ratio of 3.85. The firm’s 50 day moving average price is $3.54 and its 200-day moving average price is $4.07.
Danaos Corp. (NYSE:DAC) last announced its earnings results on Wednesday, May 4th. The company reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 earnings per share. On average, equities research analysts expect that Danaos Corp. will post $1.58 earnings per share for the current year.
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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