Danaos (NYSE:DAC) Sets New 12-Month High – Here’s Why

Danaos Corporation (NYSE:DAC)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $110.00 and last traded at $108.4410, with a volume of 202 shares traded. The stock had previously closed at $109.98.

Analysts Set New Price Targets

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

Danaos Stock Up 2.9%

The business has a fifty day moving average of $100.57 and a 200 day moving average of $95.28. 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 firm has a market cap of $2.12 billion, a P/E ratio of 4.17 and a beta of 1.08.

Danaos (NYSE:DAC) last released its quarterly earnings data on Monday, February 9th. The shipping company reported $7.14 earnings per share for the quarter, topping the consensus estimate of $6.46 by $0.68. Danaos had a net margin of 47.45% and a return on equity of 13.50%. The business had revenue of $266.27 million for the quarter, compared to analyst estimates of $253.00 million. On average, equities research analysts predict that Danaos Corporation will post 29.21 EPS for the current year.

Danaos Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $3.60 annualized dividend and a dividend yield of 3.2%. Danaos’s payout ratio is 13.44%.

Hedge Funds Weigh In On Danaos

Several institutional investors and hedge funds have recently modified their holdings of the business. ION Fund Management Ltd acquired a new stake in Danaos during the 4th quarter worth approximately $39,538,000. Ion Asset Management Ltd. increased its position in shares of Danaos by 15.5% during the second quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock worth $56,428,000 after acquiring an additional 87,614 shares in the last quarter. Millennium Management LLC raised its holdings 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 acquiring an additional 82,450 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Danaos by 58.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 106,089 shares of the shipping company’s stock worth $9,991,000 after acquiring an additional 38,958 shares during the period. Finally, Hi Line Capital Management LLC bought a new stake in Danaos in the 2nd quarter valued at $2,481,000. 19.01% of the stock is currently 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.