Danaos (NYSE:DAC) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Danaos (NYSE:DAC) from a hold rating to a buy rating in a research note published on Monday morning.

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $105.00 price objective on shares of Danaos in a research note on Tuesday, February 11th.

Danaos Trading Down 1.0 %

NYSE DAC opened at $79.92 on Monday. The company has a market capitalization of $1.52 billion, a PE ratio of 3.08 and a beta of 1.41. The company has a fifty day moving average of $80.13 and a 200 day moving average of $81.34. Danaos has a 1 year low of $69.33 and a 1 year high of $98.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78.

Danaos (NYSE:DAC) last issued its quarterly earnings data on Monday, February 10th. The shipping company reported $6.50 earnings per share for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.02). Danaos had a return on equity of 16.03% and a net margin of 49.81%. Research analysts forecast that Danaos will post 29.21 earnings per share for the current year.

Danaos Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.85 per share. The ex-dividend date was Monday, February 24th. This represents a $3.40 dividend on an annualized basis and a yield of 4.25%. Danaos’s dividend payout ratio (DPR) is presently 13.12%.

Institutional Investors Weigh In On Danaos

A number of hedge funds have recently added to or reduced their stakes in DAC. Summit Securities Group LLC purchased a new stake in shares of Danaos in the 4th quarter valued at approximately $32,000. Farther Finance Advisors LLC acquired a new stake in shares of Danaos in the 3rd quarter worth $53,000. New Age Alpha Advisors LLC acquired a new stake in shares of Danaos in the 4th quarter worth $87,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Danaos by 37.7% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company’s stock valued at $117,000 after purchasing an additional 400 shares during the period. Finally, Avior Wealth Management LLC lifted its stake in shares of Danaos by 297.9% in the third quarter. Avior Wealth Management LLC now owns 1,870 shares of the shipping company’s stock valued at $162,000 after purchasing an additional 1,400 shares during the period. 19.01% of the stock is currently owned by institutional investors and hedge funds.

About Danaos

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.