Danaos (NYSE:DAC) Reaches New 52-Week High – Here’s Why

Danaos Corporation (NYSE:DAC)’s stock price reached a new 52-week high on Monday . The company traded as high as $100.25 and last traded at $99.98, with a volume of 43676 shares trading hands. The stock had previously closed at $98.73.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Danaos presently has an average rating of “Buy” and a consensus price target of $105.00.

Danaos Price Performance

The stock has a market capitalization of $1.91 billion, a P/E ratio of 4.01 and a beta of 1.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.51 and a current ratio of 4.62. The firm has a fifty day moving average price of $95.66 and a two-hundred day moving average price of $92.50.

Danaos (NYSE:DAC) last released its quarterly earnings results on Monday, November 17th. The shipping company reported $6.75 EPS for the quarter, missing the consensus estimate of $7.17 by ($0.42). Danaos had a net margin of 45.16% and a return on equity of 13.49%. The business had revenue of $260.73 million for the quarter, compared to analysts’ expectations of $257.63 million. During the same period in the previous year, the company earned $6.50 EPS. As a group, analysts expect that Danaos Corporation will post 29.21 EPS for the current fiscal year.

Danaos Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd were paid a dividend of $0.90 per share. This is a boost from Danaos’s previous quarterly dividend of $0.85. The ex-dividend date was Tuesday, December 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.6%. Danaos’s dividend payout ratio is presently 14.37%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Assetmark Inc. lifted its position in shares of Danaos by 15,500.0% in the second quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 465 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Danaos in the 2nd quarter worth $64,000. Tower Research Capital LLC TRC purchased a new stake in Danaos in the 2nd quarter worth $67,000. TD Waterhouse Canada Inc. bought a new position in shares of Danaos during the 2nd quarter valued at about $107,000. Finally, State of Wyoming grew its holdings in Danaos by 205.3% during the 2nd quarter. State of Wyoming now owns 2,128 shares of the shipping company’s stock valued at $184,000 after buying an additional 1,431 shares in the last quarter. Hedge funds and other institutional investors own 19.01% of the company’s stock.

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.