Danaos (NYSE:DAC) Sets New 1-Year High – Here’s What Happened

Danaos Corporation (NYSE:DAC) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $118.65 and last traded at $116.9450, with a volume of 11424 shares. The stock had previously closed at $117.95.

Wall Street Analysts Forecast Growth

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

Danaos Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 4.62 and a quick ratio of 4.51. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 4.42 and a beta of 1.08. The firm has a 50 day simple moving average of $101.95 and a 200-day simple moving average of $95.74.

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

Danaos Dividend Announcement

The business 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 $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, February 23rd. Danaos’s dividend payout ratio (DPR) is 13.44%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DAC. Aristides Capital LLC acquired a new stake in shares of Danaos in the second quarter valued at $246,000. Y Intercept Hong Kong Ltd purchased a new position in Danaos during the 2nd quarter valued at about $264,000. Hi Line Capital Management LLC grew its position in Danaos by 98.6% in the 3rd quarter. Hi Line Capital Management LLC now owns 57,133 shares of the shipping company’s stock valued at $5,131,000 after acquiring an additional 28,365 shares in the last quarter. Bastion Asset Management Inc. increased its stake in Danaos by 50.6% during the second quarter. Bastion Asset Management Inc. now owns 37,514 shares of the shipping company’s stock worth $3,217,000 after purchasing an additional 12,606 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of Danaos during the second quarter worth about $1,129,000. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

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.