Danaos (NYSE:DAC) Announces Quarterly Earnings Results

Danaos (NYSE:DAC) issued its quarterly earnings data on Monday. The shipping company reported $7.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.46 by $0.68, Zacks reports. Danaos had a return on equity of 13.50% and a net margin of 47.45%.The company had revenue of $266.27 million for the quarter, compared to analyst estimates of $253.00 million.

Danaos Stock Performance

NYSE DAC opened at $105.13 on Wednesday. The business’s 50-day moving average price is $98.15 and its 200 day moving average price is $94.23. The company has a quick ratio of 4.51, a current ratio of 4.62 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.00 billion, a P/E ratio of 3.93 and a beta of 1.08. Danaos has a 52-week low of $65.40 and a 52-week high of $107.60.

Danaos Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.4%. Danaos’s dividend payout ratio (DPR) is currently 14.37%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Danaos in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $105.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of Danaos during the second quarter worth $64,000. Tower Research Capital LLC TRC acquired a new position in Danaos in the 2nd quarter valued at $67,000. Creative Planning raised its position in Danaos by 13.4% during the 3rd quarter. Creative Planning now owns 6,792 shares of the shipping company’s stock worth $610,000 after buying an additional 803 shares during the last quarter. Aquatic Capital Management LLC lifted its stake in shares of Danaos by 18.4% in the 3rd quarter. Aquatic Capital Management LLC now owns 5,390 shares of the shipping company’s stock worth $484,000 after acquiring an additional 837 shares during the period. Finally, State of Wyoming boosted its holdings in shares of Danaos by 205.3% in the second quarter. State of Wyoming now owns 2,128 shares of the shipping company’s stock valued at $184,000 after acquiring an additional 1,431 shares in the last quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.

About Danaos

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.