Danaos (NYSE:DAC) Reaches New 12-Month High – Still a Buy?

Shares of Danaos Corporation (NYSE:DAC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $100.25 and last traded at $99.98, with a volume of 43676 shares changing hands. The stock had previously closed at $98.73.

Analyst Upgrades and Downgrades

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

Danaos Trading Up 1.8%

The company’s fifty day moving average price is $95.09 and its two-hundred day moving average price is $92.25. The company has a quick ratio of 4.51, a current ratio of 4.62 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 4.01 and a beta of 1.03.

Danaos (NYSE:DAC) last released its quarterly earnings results on Monday, November 17th. The shipping company reported $6.75 EPS for the quarter, missing analysts’ consensus estimates of $7.17 by ($0.42). The business had revenue of $260.73 million for the quarter, compared to the consensus estimate of $257.63 million. Danaos had a return on equity of 13.49% and a net margin of 45.16%.During the same quarter last year, the company earned $6.50 earnings per share. Research analysts expect that Danaos Corporation will post 29.21 earnings per share for the current year.

Danaos Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd were given a dividend of $0.90 per share. This is a positive change from Danaos’s previous quarterly dividend of $0.85. The ex-dividend date was Tuesday, December 2nd. This represents a $3.60 annualized dividend and a yield of 3.6%. Danaos’s dividend payout ratio is currently 14.37%.

Institutional Trading of Danaos

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

About Danaos

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.