Danaos Corporation (NYSE:DAC) has been assigned an average rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $3.00.
Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Danaos Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Jefferies Group LLC restated a “hold” rating and set a $3.00 price objective on shares of Danaos Corporation in a research report on Wednesday, August 16th. Zacks Investment Research downgraded shares of Danaos Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Finally, BidaskClub upgraded shares of Danaos Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 14th.
An institutional investor recently raised its position in Danaos Corporation stock. Bank of New York Mellon Corp grew its stake in shares of Danaos Corporation (NYSE:DAC) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,802 shares of the shipping company’s stock after acquiring an additional 4,383 shares during the period. Bank of New York Mellon Corp owned 0.10% of Danaos Corporation worth $194,000 at the end of the most recent quarter. 1.89% of the stock is currently owned by institutional investors and hedge funds.
Danaos Corporation (NYSE:DAC) remained flat at $1.45 during trading on Friday. 35,474 shares of the company were exchanged. The stock’s 50-day moving average is $1.45 and its 200-day moving average is $1.60. The company’s market cap is $159.21 million. Danaos Corporation has a 52-week low of $1.25 and a 52-week high of $4.40.
Danaos Corporation (NYSE:DAC) last issued its quarterly earnings data on Monday, July 31st. The shipping company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The firm had revenue of $113.88 million during the quarter, compared to the consensus estimate of $108.01 million. Danaos Corporation had a negative net margin of 92.96% and a positive return on equity of 16.72%. The business’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. On average, equities analysts expect that Danaos Corporation will post $0.89 earnings per share for the current fiscal year.
Danaos Corporation Company Profile
Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company.
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