Danaos (NYSE:DAC) Hits New 1-Year High – Should You Buy?

Danaos Corporation (NYSE:DAC) hit a new 52-week high during trading on Tuesday . The company traded as high as $108.53 and last traded at $107.8750, with a volume of 9653 shares changing hands. The stock had previously closed at $108.05.

Analyst Upgrades and Downgrades

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

Danaos Price Performance

The company has a fifty day moving average of $98.85 and a 200-day moving average of $94.62. The stock has a market cap of $2.04 billion, a PE ratio of 4.00 and a beta of 1.08. The company has a current ratio of 4.62, a quick ratio of 4.51 and a debt-to-equity ratio of 0.18.

Danaos (NYSE:DAC) last issued its quarterly 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 company had revenue of $266.27 million for the quarter, compared to the consensus estimate of $253.00 million. Danaos had a return on equity of 13.50% and a net margin of 47.45%. Sell-side analysts expect that Danaos Corporation will post 29.21 EPS for the current fiscal year.

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be given a dividend of $0.90 per share. The ex-dividend date is Monday, February 23rd. This represents a $3.60 dividend on an annualized basis and a yield of 3.4%. Danaos’s dividend payout ratio is presently 13.44%.

Hedge Funds Weigh In On Danaos

Large investors have recently made changes to their positions in the stock. Assetmark Inc. raised its position in shares of Danaos by 15,500.0% in the second quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock valued at $40,000 after buying an additional 465 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Danaos in the fourth quarter valued at approximately $43,000. Raymond James Financial Inc. acquired a new position in Danaos in the 2nd quarter worth $64,000. Tower Research Capital LLC TRC acquired a new stake in Danaos during the 2nd quarter valued at approximately $67,000. Finally, Farther Finance Advisors LLC increased its holdings in Danaos by 165.0% during the 4th quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock worth $73,000 after purchasing an additional 485 shares during the last quarter. Hedge funds and other 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.