Danaos (NYSE:DAC) Hits New 12-Month High – Here’s What Happened

Danaos Corporation (NYSE:DAC)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $108.53 and last traded at $107.8750, with a volume of 9653 shares traded. The stock had previously closed at $108.05.

Wall Street Analyst Weigh In

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

Danaos Stock Down 0.8%

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’s 50-day moving average price is $98.85 and its 200 day moving average price is $94.62. The firm has a market cap of $2.04 billion, a P/E ratio of 4.00 and a beta of 1.08.

Danaos (NYSE:DAC) last issued its quarterly earnings data on Monday, February 9th. The shipping company reported $7.14 earnings per share for the quarter, beating analysts’ consensus estimates of $6.46 by $0.68. Danaos had a net margin of 47.45% and a return on equity of 13.50%. The business had revenue of $266.27 million for the quarter, compared to analysts’ expectations of $253.00 million. As a group, research analysts expect that Danaos Corporation will post 29.21 earnings per share for the current year.

Danaos Dividend Announcement

The company also recently announced 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. This represents a $3.60 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, February 23rd. Danaos’s payout ratio is presently 13.44%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DAC. Kestra Advisory Services LLC bought a new stake in Danaos in the fourth quarter worth approximately $43,000. Assetmark Inc. increased its position in Danaos by 15,500.0% in the 2nd quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock worth $40,000 after buying an additional 465 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Danaos during the second quarter valued at about $64,000. Tower Research Capital LLC TRC bought a new stake in shares of Danaos in the 2nd quarter worth approximately $67,000. Finally, Farther Finance Advisors LLC boosted its stake in Danaos by 165.0% during the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock worth $73,000 after buying an additional 485 shares in the last quarter. Institutional investors 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.