Danaos (NYSE:DAC) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Danaos Corporation (NYSE:DAC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $99.27 and traded as high as $117.05. Danaos shares last traded at $116.5290, with a volume of 42,406 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DAC. Freedom Capital raised shares of Danaos to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Danaos presently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

Danaos Trading Up 1.5%

The company has a debt-to-equity ratio of 0.23, a current ratio of 3.28 and a quick ratio of 3.23. The firm’s 50 day moving average is $110.41 and its 200 day moving average is $99.55. The company has a market capitalization of $2.13 billion, a PE ratio of 4.37 and a beta of 0.95.

Danaos (NYSE:DAC) last 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. Danaos had a net margin of 47.45% and a return on equity of 13.31%. The company had revenue of $266.27 million for the quarter, compared to the consensus estimate of $253.00 million. As a group, equities analysts predict that Danaos Corporation will post 29.21 EPS for the current year.

Danaos Announces Dividend

The business 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. This represents a $3.60 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, February 23rd. Danaos’s payout ratio is presently 13.44%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DAC. Cubist Systematic Strategies LLC purchased a new position in Danaos during the 1st quarter valued at $223,000. Goldman Sachs Group Inc. increased its position in Danaos by 183.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company’s stock valued at $3,606,000 after purchasing an additional 29,921 shares during the period. JPMorgan Chase & Co. increased its position in Danaos by 39.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 82,834 shares of the shipping company’s stock valued at $7,144,000 after purchasing an additional 23,593 shares during the period. Walleye Capital LLC purchased a new position in Danaos during the 2nd quarter valued at $1,129,000. Finally, Marshall Wace LLP purchased a new position in Danaos during the 2nd quarter valued at $276,000. 19.01% of the stock is owned by hedge funds and other institutional investors.

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.