Danaos (NYSE:DAC) Shares Gap Up – Time to Buy?

Danaos Corporation (NYSE:DAC)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $92.19, but opened at $94.87. Danaos shares last traded at $94.0950, with a volume of 1,134 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Danaos in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $105.00.

Danaos Stock Up 0.4%

The firm’s fifty day simple moving average is $92.83 and its 200-day simple moving average is $91.38. The company has a market cap of $1.80 billion, a PE ratio of 3.78 and a beta of 1.16. The company has a quick ratio of 4.51, a current ratio of 4.62 and a debt-to-equity ratio of 0.18.

Danaos (NYSE:DAC) last released its earnings results on Monday, November 17th. The shipping company reported $6.75 EPS for the quarter, missing the consensus estimate of $7.17 by ($0.42). Danaos had a return on equity of 13.49% and a net margin of 45.16%.The firm had revenue of $260.73 million during the quarter, compared to analysts’ expectations of $257.63 million. During the same period in the previous year, the firm posted $6.50 earnings per share. As a group, equities research analysts expect that Danaos Corporation will post 29.21 earnings per share for the current fiscal year.

Danaos Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd were given a $0.90 dividend. This is an increase from Danaos’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $3.60 annualized dividend and a dividend yield of 3.8%. Danaos’s dividend payout ratio is 14.37%.

Institutional Trading of Danaos

A number of institutional investors have recently modified their holdings of DAC. Assetmark Inc. raised its holdings in Danaos by 15,500.0% in the second quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock valued at $40,000 after buying an additional 465 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Danaos in the second quarter worth $64,000. Tower Research Capital LLC TRC purchased a new position in shares of Danaos in the 2nd quarter valued at $67,000. TD Waterhouse Canada Inc. acquired a new position in shares of Danaos during the 2nd quarter valued at $107,000. Finally, State of Wyoming boosted its position in Danaos by 205.3% during the 2nd quarter. State of Wyoming now owns 2,128 shares of the shipping company’s stock worth $184,000 after purchasing an additional 1,431 shares during the period. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Danaos Company Profile

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.