Danaos (NYSE:DAC) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Danaos Corporation (NYSE:DAC) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $121.82 and traded as high as $142.45. Danaos shares last traded at $141.70, with a volume of 94,981 shares traded.

Analysts Set New Price Targets

A number of research firms have weighed in on DAC. Freedom Capital upgraded Danaos from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Fearnley Fonds upgraded Danaos from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings raised Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, Danaos currently has a consensus rating of “Strong Buy”.

Danaos Stock Up 0.9%

The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 4.80 and a beta of 0.89. The firm’s 50 day moving average price is $131.56 and its two-hundred day moving average price is $121.82. The company has a current ratio of 9.30, a quick ratio of 9.15 and a debt-to-equity ratio of 0.29.

Danaos (NYSE:DAC) last issued its earnings results on Monday, August 3rd. The shipping company reported $7.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.80 by $0.49. Danaos had a net margin of 51.26% and a return on equity of 13.20%. The company had revenue of $274.37 million for the quarter, compared to analysts’ expectations of $258.27 million.

Danaos Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Tuesday, July 21st were paid a $0.90 dividend. The ex-dividend date was Tuesday, July 21st. This represents a $3.60 annualized dividend and a yield of 2.5%. Danaos’s dividend payout ratio is currently 12.18%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new position in shares of Danaos during the 4th quarter worth approximately $43,000. Ascentis Independent Advisors bought a new stake in Danaos in the 1st quarter valued at $56,000. Raymond James Financial Inc. acquired a new stake in Danaos during the 2nd quarter valued at $64,000. Tower Research Capital LLC TRC acquired a new stake in Danaos during the 2nd quarter valued at $67,000. Finally, Farther Finance Advisors LLC boosted its position in Danaos by 165.0% during the fourth 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 period. 19.01% of the stock is currently owned by 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.