Danaos (NYSE:DAC) Reaches New 12-Month High – What’s Next?

Danaos Corporation (NYSE:DAC)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $153.21 and last traded at $153.0690, with a volume of 81137 shares changing hands. The stock had previously closed at $151.09.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DAC shares. Weiss Ratings raised Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. Freedom Capital raised Danaos from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, According to MarketBeat, Danaos has an average rating of “Strong Buy”.

Danaos Stock Up 0.4%

The company has a debt-to-equity ratio of 0.29, a current ratio of 9.30 and a quick ratio of 9.15. The firm has a market cap of $2.80 billion, a PE ratio of 5.21 and a beta of 0.87. The business has a fifty day moving average price of $137.68 and a two-hundred day moving average price of $126.53.

Danaos (NYSE:DAC) last announced its quarterly earnings data on Monday, August 3rd. The shipping company reported $7.29 EPS for the quarter, topping analysts’ consensus estimates of $6.80 by $0.49. The firm had revenue of $274.37 million during the quarter, compared to analyst estimates of $258.27 million. Danaos had a return on equity of 13.20% and a net margin of 51.26%.

Danaos Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Tuesday, July 21st were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, July 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.3%. Danaos’s dividend payout ratio (DPR) is 12.18%.

Institutional Investors Weigh In On Danaos

Several large investors have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new position in shares of Danaos during the 4th quarter worth $43,000. Ascentis Independent Advisors bought a new stake in Danaos during the first quarter worth approximately $56,000. Raymond James Financial Inc. acquired a new position in Danaos during the second quarter valued at approximately $64,000. Tower Research Capital LLC TRC acquired a new position in Danaos during the second quarter valued at approximately $67,000. Finally, Royal Bank of Canada raised its position in shares of Danaos by 443.1% in the fourth quarter. Royal Bank of Canada now owns 869 shares of the shipping company’s stock valued at $82,000 after purchasing an additional 709 shares during the period. 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.