Danaos (NYSE:DAC) Rating Increased to Strong-Buy at Fearnley Fonds

Fearnley Fonds upgraded shares of Danaos (NYSE:DAC) from a hold rating to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

A number of other research firms have also weighed in on DAC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a research note on Wednesday, January 21st. Freedom Capital raised shares of Danaos to a “hold” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $105.00.

Danaos Trading Up 0.2%

DAC opened at $120.01 on Thursday. 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 stock’s fifty day moving average is $114.60 and its two-hundred day moving average is $102.64. The company has a market capitalization of $2.18 billion, a P/E ratio of 4.48 and a beta of 0.95. Danaos has a 52 week low of $79.48 and a 52 week high of $123.93.

Danaos (NYSE:DAC) last issued its earnings results 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. The business had revenue of $266.27 million during the quarter, compared to analysts’ expectations of $253.00 million. Danaos had a return on equity of 13.31% and a net margin of 47.45%.

Danaos Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a $0.90 dividend. The ex-dividend date was Monday, February 23rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.0%. Danaos’s dividend payout ratio (DPR) is currently 13.44%.

Institutional Investors Weigh In On Danaos

Hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new stake in Danaos during the fourth quarter valued at about $43,000. Ascentis Independent Advisors bought a new position in Danaos in the first quarter worth about $56,000. Raymond James Financial Inc. purchased a new stake in shares of Danaos during the second quarter valued at about $64,000. Tower Research Capital LLC TRC bought a new stake in shares of Danaos in the 2nd quarter valued at about $67,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Danaos by 165.0% in the 4th quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after buying an additional 485 shares in the last quarter. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

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.