Danaos (NYSE:DAC) Reaches New 52-Week High at $92.50

Danaos Co. (NYSE:DACGet Free Report)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $92.50 and last traded at $91.75, with a volume of 11489 shares traded. The stock had previously closed at $91.48.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lifted their price target on Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday.

Check Out Our Latest Stock Analysis on DAC

Danaos Stock Performance

The company has a market capitalization of $1.79 billion, a PE ratio of 3.13 and a beta of 1.30. The company has a quick ratio of 2.84, a current ratio of 2.98 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $77.83 and a two-hundred day moving average price of $74.32.

Danaos (NYSE:DACGet Free Report) last posted its quarterly earnings data on Tuesday, May 28th. The shipping company reported $7.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.71 by ($0.56). Danaos had a net margin of 59.04% and a return on equity of 19.40%. The business had revenue of $253.45 million for the quarter. During the same period last year, the company earned $7.14 earnings per share. Analysts predict that Danaos Co. will post 31.34 EPS for the current fiscal year.

Danaos Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 11th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.47%. The ex-dividend date is Tuesday, June 11th. Danaos’s dividend payout ratio (DPR) is currently 10.86%.

Institutional Investors Weigh In On Danaos

Several hedge funds have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd lifted its stake in shares of Danaos by 100.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 45,854 shares of the shipping company’s stock valued at $3,036,000 after acquiring an additional 22,970 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Danaos by 14.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,600 shares of the shipping company’s stock valued at $118,000 after acquiring an additional 199 shares during the last quarter. Chesapeake Capital Corp IL bought a new stake in shares of Danaos in the 4th quarter valued at about $940,000. Quadrant Capital Group LLC lifted its stake in shares of Danaos by 35.5% in the 4th quarter. Quadrant Capital Group LLC now owns 4,399 shares of the shipping company’s stock valued at $326,000 after acquiring an additional 1,152 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Danaos during the 3rd quarter valued at about $1,711,000. Institutional investors own 19.01% of the company’s stock.

Danaos Company Profile

(Get Free Report)

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.

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