Danaos Corp. (DAC) Shares Down 4.4%
Danaos Corp. (NYSE:DAC) dropped 4.4% during mid-day trading on Monday . The company traded as low as $4.11 and last traded at $4.13, with a volume of 217,128 shares. The stock had previously closed at $4.32.
DAC has been the topic of a number of research reports. Jefferies Group reiterated a “hold” rating and set a $5.00 target price on shares of Danaos Corp. in a report on Friday, May 6th. Zacks Investment Research upgraded shares of Danaos Corp. from a “strong sell” rating to a “strong-buy” rating and set a $3.50 target price on the stock in a report on Wednesday, July 6th.
The stock has a market cap of $456.76 million and a P/E ratio of 3.33. The company’s 50 day moving average price is $3.83 and its 200 day moving average price is $4.00.
Danaos Corp. (NYSE:DAC) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $137 million for the quarter, compared to analysts’ expectations of $135.57 million. During the same quarter last year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts anticipate that Danaos Corp. will post $1.56 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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