Danaos Corp. (DAC) Sees Large Volume Increase
Danaos Corp. (NYSE:DAC) saw an uptick in trading volume on Thursday . 122,662 shares traded hands during trading, an increase of 63% from the previous session’s volume of 75,345 shares.The stock last traded at $2.80 and had previously closed at $3.23.
Several brokerages have recently issued reports on DAC. Jefferies Group reissued a “hold” rating and set a $5.00 price objective on shares of Danaos Corp. in a research note on Friday, May 6th. Zacks Investment Research raised shares of 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 note on Wednesday, July 6th.
The stock’s 50 day moving average is $3.94 and its 200 day moving average is $3.82. The company has a market capitalization of $317.32 million and a P/E ratio of 2.31.
Danaos Corp. (NYSE:DAC) last released its earnings results on Monday, August 1st. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. The business had revenue of $137 million for the quarter, compared to analyst estimates of $135.57 million. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts predict that Danaos Corp. will post $1.56 earnings per share for the current fiscal 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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