Danaos (NYSE:DAC) Releases Earnings Results, Beats Expectations By $1.32 EPS

Danaos (NYSE:DAC) announced its earnings results on Monday. The shipping company reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.40 by $1.32, Zacks reports. Danaos had a return on equity of 13.31% and a net margin of 47.45%.The business had revenue of $253.70 million for the quarter, compared to analyst estimates of $236.50 million.

Danaos Stock Down 0.7%

Shares of Danaos stock opened at $133.67 on Tuesday. 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 firm has a market cap of $2.43 billion, a P/E ratio of 4.99 and a beta of 0.90. Danaos has a fifty-two week low of $82.75 and a fifty-two week high of $135.21. The business has a 50-day moving average price of $116.54 and a 200 day moving average price of $104.49.

Danaos Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Tuesday, May 26th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, May 26th. Danaos’s payout ratio is currently 13.44%.

Institutional Trading of Danaos

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new stake in Danaos in the fourth quarter valued at about $43,000. Raymond James Financial Inc. bought a new stake in Danaos in the second quarter valued at about $64,000. Tower Research Capital LLC TRC bought a new stake in Danaos in the second quarter valued at about $67,000. Royal Bank of Canada increased its holdings in Danaos by 443.1% in the fourth quarter. Royal Bank of Canada now owns 869 shares of the shipping company’s stock valued at $82,000 after buying an additional 709 shares during the last quarter. Finally, Intesa Sanpaolo Wealth Management bought a new stake in Danaos in the fourth quarter valued at about $88,000. 19.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DAC shares. Weiss Ratings raised Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, May 6th. Freedom Capital raised Danaos to a “hold” rating in a research report on Tuesday, March 10th. Finally, Fearnley Fonds raised Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $105.00.

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.