Danaos (NYSE:DAC) Reaches New 1-Year High – Here’s Why

Danaos Corporation (NYSE:DAC) hit a new 52-week high on Thursday . The stock traded as high as $103.87 and last traded at $103.0260, with a volume of 80665 shares changing hands. The stock had previously closed at $102.40.

Analyst Upgrades and Downgrades

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

Danaos Stock Up 0.6%

The stock has a market capitalization of $1.96 billion, a P/E ratio of 4.11 and a beta of 1.03. 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 stock has a fifty day moving average price of $96.94 and a 200 day moving average price of $93.40.

Danaos (NYSE:DAC) last issued its quarterly earnings data on Monday, November 17th. The shipping company reported $6.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.17 by ($0.42). The company had revenue of $260.73 million for the quarter, compared to analysts’ expectations of $257.63 million. Danaos had a return on equity of 13.49% and a net margin of 45.16%.During the same period last year, the company posted $6.50 EPS. On average, research analysts forecast that Danaos Corporation will post 29.21 earnings per share for the current year.

Danaos Increases Dividend

The company 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 an increase from Danaos’s previous quarterly dividend of $0.85. This represents a $3.60 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, December 2nd. Danaos’s dividend payout ratio is presently 14.37%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Assetmark Inc. increased its holdings in shares of Danaos by 15,500.0% in the second quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock worth $40,000 after purchasing an additional 465 shares during the period. Raymond James Financial Inc. purchased a new position in Danaos during the second quarter worth about $64,000. Tower Research Capital LLC TRC bought a new position in Danaos in the 2nd quarter worth about $67,000. Farther Finance Advisors LLC raised its holdings in shares of Danaos by 165.0% in the 4th quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 485 shares in the last quarter. Finally, TD Waterhouse Canada Inc. bought a new stake in shares of Danaos during the 2nd quarter valued at about $107,000. 19.01% of the stock is owned by 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.