Danaos (NYSE:DAC) Sets New 52-Week High – Here’s What Happened

Danaos Corporation (NYSE:DAC)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $110.00 and last traded at $108.4410, with a volume of 202 shares changing hands. The stock had previously closed at $109.98.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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.com, the company has a consensus rating of “Buy” and an average price target of $105.00.

Danaos Stock Down 1.2%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.51 and a current ratio of 4.62. The stock’s 50-day moving average price is $99.95 and its two-hundred day moving average price is $95.06. The stock has a market capitalization of $2.06 billion, a PE ratio of 4.03 and a beta of 1.08.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Monday, February 9th. The shipping company reported $7.14 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $253.00 million. As a group, analysts expect that Danaos Corporation will post 29.21 EPS for the current fiscal year.

Danaos Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, February 23rd. This represents a $3.60 dividend on an annualized basis and a yield of 3.3%. Danaos’s payout ratio is presently 13.44%.

Hedge Funds Weigh In On Danaos

A number of hedge funds have recently added to or reduced their stakes in DAC. Assetmark Inc. raised 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 last quarter. Kestra Advisory Services LLC purchased a new position in shares of Danaos during the 4th quarter valued at $43,000. Raymond James Financial Inc. purchased a new position in shares of Danaos in the second quarter valued at about $64,000. Tower Research Capital LLC TRC purchased a new stake in Danaos during the 2nd quarter valued at approximately $67,000. Finally, Farther Finance Advisors LLC increased its holdings in 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 during the last quarter. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

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.