Danaos (NYSE:DAC) Hits New 52-Week High – Time to Buy?

Danaos Corporation (NYSE:DAC)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $118.65 and last traded at $116.9450, with a volume of 11424 shares trading hands. The stock had previously closed at $117.95.

Analyst Ratings Changes

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

Danaos Trading Up 0.3%

The company has a 50 day simple moving average of $101.95 and a two-hundred day simple moving average of $95.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.51 and a current ratio of 4.62. The firm has a market cap of $2.25 billion, a PE ratio of 4.42 and a beta of 1.08.

Danaos (NYSE:DAC) last posted its earnings results on Monday, February 9th. The shipping company reported $7.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.46 by $0.68. Danaos had a net margin of 47.45% and a return on equity of 13.50%. The company had revenue of $266.27 million during the quarter, compared to the consensus estimate of $253.00 million. Analysts expect that Danaos Corporation will post 29.21 EPS for the current fiscal year.

Danaos Announces Dividend

The business 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 3.0%. Danaos’s dividend payout ratio is currently 13.44%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DAC. Aristides Capital LLC purchased a new stake in Danaos during the 2nd quarter valued at about $246,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Danaos during the 2nd quarter worth approximately $264,000. Hi Line Capital Management LLC grew its position in shares of Danaos by 98.6% in the third quarter. Hi Line Capital Management LLC now owns 57,133 shares of the shipping company’s stock valued at $5,131,000 after purchasing an additional 28,365 shares in the last quarter. Bastion Asset Management Inc. increased its holdings in shares of Danaos by 50.6% in the second quarter. Bastion Asset Management Inc. now owns 37,514 shares of the shipping company’s stock valued at $3,217,000 after purchasing an additional 12,606 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in Danaos during the second quarter worth approximately $1,129,000. 19.01% of the stock is 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.