Danaos Corporation (DAC) Earns “Hold” Rating from Jefferies Group LLC
Danaos Corporation (NYSE:DAC)‘s stock had its “hold” rating reaffirmed by investment analysts at Jefferies Group LLC in a report issued on Wednesday. They presently have a $3.00 target price on the shipping company’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 103.39% from the company’s previous close.
A number of other analysts have also recently commented on DAC. Zacks Investment Research raised Danaos Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. ValuEngine cut Danaos Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub raised Danaos Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Five equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $2.25.
Danaos Corporation (NYSE DAC) opened at 1.475 on Wednesday. The firm’s market capitalization is $161.95 million. Danaos Corporation has a one year low of $1.25 and a one year high of $4.40. The firm has a 50 day moving average of $1.89 and a 200 day moving average of $1.84.
Danaos Corporation (NYSE:DAC) last announced its quarterly earnings results on Monday, July 31st. The shipping company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The company had revenue of $113.88 million during the quarter, compared to analysts’ expectations of $108.01 million. Danaos Corporation had a positive return on equity of 16.72% and a negative net margin of 92.96%. Danaos Corporation’s revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 EPS. Equities analysts forecast that Danaos Corporation will post $0.89 EPS for the current year.
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A hedge fund recently raised its stake in Danaos Corporation stock. Bank of New York Mellon Corp raised its position in Danaos Corporation (NYSE:DAC) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 113,802 shares of the shipping company’s stock after buying an additional 3,000 shares during the period. Bank of New York Mellon Corp owned approximately 0.10% of Danaos Corporation worth $193,000 at the end of the most recent quarter. 2.14% of the stock is owned by institutional investors.
About Danaos Corporation
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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