Planned Solutions Inc. Takes Position in Danaos Co. (NYSE:DAC)

Planned Solutions Inc. purchased a new stake in Danaos Co. (NYSE:DAC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 950 shares of the shipping company’s stock, valued at approximately $70,000.

Several other large investors also recently bought and sold shares of the stock. Signaturefd LLC boosted its position in shares of Danaos by 45.2% in the 3rd quarter. Signaturefd LLC now owns 524 shares of the shipping company’s stock valued at $35,000 after purchasing an additional 163 shares during the period. Credit Suisse AG acquired a new stake in shares of Danaos in the second quarter valued at approximately $45,000. Citigroup Inc. grew its position in shares of Danaos by 34.2% during the first quarter. Citigroup Inc. now owns 808 shares of the shipping company’s stock worth $44,000 after acquiring an additional 206 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Danaos by 70.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,012 shares of the shipping company’s stock valued at $67,000 after acquiring an additional 419 shares during the period. Finally, Centaurus Financial Inc. purchased a new stake in Danaos in the 1st quarter valued at $125,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Price Performance

Danaos stock opened at $72.54 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.98 and a quick ratio of 2.84. The business has a 50 day simple moving average of $73.09 and a 200-day simple moving average of $70.29. Danaos Co. has a 12 month low of $52.46 and a 12 month high of $80.39. The stock has a market capitalization of $1.41 billion, a PE ratio of 2.50 and a beta of 1.30.

Danaos (NYSE:DAC) last released its earnings results on Tuesday, February 13th. The shipping company reported $6.99 EPS for the quarter, missing the consensus estimate of $7.70 by ($0.71). Danaos had a return on equity of 19.94% and a net margin of 59.19%. The firm had revenue of $249.32 million during the quarter, compared to analyst estimates of $254.37 million. Equities analysts predict that Danaos Co. will post 31.33 earnings per share for the current year.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend was Tuesday, February 27th. Danaos’s payout ratio is 11.05%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Danaos in a report on Wednesday, February 14th.

Danaos Company Profile

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 February 28, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.