Danaos (NYSE:DAC) Issues Earnings Results, Beats Expectations By $0.68 EPS

Danaos (NYSE:DAC) issued its earnings results on Monday, February 9th. The shipping company reported $7.14 EPS for the quarter, topping the consensus estimate of $6.46 by $0.68, Zacks reports. Danaos had a return on equity of 13.31% and a net margin of 47.45%.The business had revenue of $266.27 million during the quarter, compared to the consensus estimate of $253.00 million.

Danaos Stock Up 2.2%

Shares of NYSE:DAC traded up $2.41 during midday trading on Tuesday, reaching $112.20. The company’s stock had a trading volume of 45,798 shares, compared to its average volume of 85,786. The company has a quick ratio of 3.23, a current ratio of 3.28 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average of $108.45 and a 200-day moving average of $98.56. The firm has a market capitalization of $2.04 billion, a P/E ratio of 4.19 and a beta of 0.98. Danaos has a 12-month low of $65.40 and a 12-month high of $118.82.

Danaos Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $3.60 annualized dividend and a yield of 3.2%. Danaos’s dividend payout ratio (DPR) is currently 13.44%.

Institutional Trading of Danaos

Several hedge funds and other institutional investors have recently made changes to their positions in DAC. Kestra Advisory Services LLC bought a new stake in Danaos in the fourth quarter worth $43,000. Raymond James Financial Inc. bought a new position in shares of Danaos during the second quarter valued at $64,000. Tower Research Capital LLC TRC purchased a new position in shares of Danaos in the 2nd quarter worth about $67,000. Royal Bank of Canada raised its position in shares of Danaos by 443.1% in the 4th quarter. Royal Bank of Canada now owns 869 shares of the shipping company’s stock worth $82,000 after purchasing an additional 709 shares during the last quarter. Finally, Intesa Sanpaolo Wealth Management bought a new position in Danaos in the 4th quarter worth about $88,000. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Analyst Upgrades and Downgrades

DAC has been the topic of a number of research reports. Freedom Capital raised Danaos to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings restated a “buy (b)” rating on shares of Danaos in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

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.