Danaos (NYSE:DAC) Releases Earnings Results, Beats Estimates By $0.68 EPS

Danaos (NYSE:DAC) released its quarterly earnings data on Monday. The shipping company reported $7.14 earnings per share for the quarter, beating the consensus estimate of $6.46 by $0.68, Zacks reports. Danaos had a return on equity of 13.49% and a net margin of 45.16%.

Danaos Stock Performance

Shares of DAC traded up $1.34 during midday trading on Monday, hitting $103.42. 114,479 shares of the stock traded hands, compared to its average volume of 79,090. The business’s 50 day moving average price is $97.85 and its two-hundred day moving average price is $94.06. The firm has a market capitalization of $1.96 billion, a PE ratio of 4.13 and a beta of 1.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.51 and a current ratio of 4.62. Danaos has a 1-year low of $65.40 and a 1-year high of $104.83.

Danaos Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, December 2nd were paid a $0.90 dividend. The ex-dividend date was Tuesday, December 2nd. This is a positive change from Danaos’s previous quarterly dividend of $0.85. This represents a $3.60 dividend on an annualized basis and a yield of 3.5%. Danaos’s dividend payout ratio (DPR) is 14.37%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Danaos in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $105.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ion Asset Management Ltd. increased its stake in shares of Danaos by 15.5% in the second quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock valued at $56,428,000 after purchasing an additional 87,614 shares during the period. Millennium Management LLC boosted its position in shares of Danaos by 161.8% during the third quarter. Millennium Management LLC now owns 133,401 shares of the shipping company’s stock worth $11,981,000 after buying an additional 82,450 shares during the period. Goldman Sachs Group Inc. grew its holdings in Danaos by 183.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company’s stock worth $3,606,000 after buying an additional 29,921 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Danaos in the 3rd quarter valued at approximately $2,541,000. Finally, UBS Group AG raised its stake in Danaos by 79.7% during the 3rd quarter. UBS Group AG now owns 54,452 shares of the shipping company’s stock valued at $4,890,000 after acquiring an additional 24,153 shares in the last quarter. 19.01% of the stock is owned by institutional investors and hedge funds.

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.