Danaos (NYSE:DAC) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Danaos (NYSE:DAC) to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Danaos in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

Danaos Trading Down 1.6%

Shares of DAC stock traded down $1.80 during trading hours on Tuesday, reaching $107.16. The company had a trading volume of 35,408 shares, compared to its average volume of 89,177. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.28 and a quick ratio of 3.23. Danaos has a 1-year low of $65.40 and a 1-year high of $118.82. The company has a 50 day moving average of $105.21 and a 200 day moving average of $96.94. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 4.00 and a beta of 0.98.

Danaos (NYSE:DAC) last released its quarterly earnings data on Monday, February 9th. The shipping company reported $7.14 EPS for the quarter, beating analysts’ consensus estimates of $6.46 by $0.68. 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. On average, equities research analysts anticipate that Danaos will post 29.21 EPS for the current year.

Danaos Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, February 23rd. Danaos’s dividend payout ratio is 13.44%.

Hedge Funds Weigh In On Danaos

Several institutional investors have recently modified their holdings of DAC. Aristides Capital LLC acquired a new position in shares of Danaos in the second quarter valued at approximately $246,000. Dynamic Technology Lab Private Ltd bought a new stake in Danaos in the 3rd quarter valued at $817,000. Hi Line Capital Management LLC lifted its position in Danaos by 98.6% in the 3rd quarter. Hi Line Capital Management LLC now owns 57,133 shares of the shipping company’s stock valued at $5,131,000 after acquiring an additional 28,365 shares in the last quarter. Walleye Capital LLC acquired a new position in Danaos in the 2nd quarter worth $1,129,000. Finally, Corsair Capital Management L.P. increased its holdings in Danaos by 180.0% during the 2nd quarter. Corsair Capital Management L.P. now owns 14,000 shares of the shipping company’s stock worth $1,207,000 after purchasing an additional 9,000 shares in the last quarter. Institutional investors 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.