Danaos (NYSE:DAC) Shares Cross Above 200-Day Moving Average of $6.63

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Danaos Co. (NYSE:DAC) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.63 and traded as high as $9.06. Danaos shares last traded at $8.71, with a volume of 604 shares changing hands.

A number of analysts have recently issued reports on the company. ValuEngine downgraded Danaos from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Zacks Investment Research upgraded Danaos from a “hold” rating to a “strong-buy” rating and set a $7.75 price target for the company in a research report on Thursday, August 15th.

The stock has a 50-day moving average of $7.38 and a two-hundred day moving average of $6.63. The company has a market cap of $128.17 million, a P/E ratio of 0.67 and a beta of 1.22. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.51 and a current ratio of 0.55.

Danaos (NYSE:DAC) last released its earnings results on Monday, August 5th. The shipping company reported $2.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.14. The company had revenue of $112.32 million during the quarter, compared to the consensus estimate of $106.40 million. Danaos had a return on equity of 19.24% and a net margin of 2.14%. As a group, sell-side analysts forecast that Danaos Co. will post 8.61 EPS for the current fiscal year.

Danaos Company Profile (NYSE:DAC)

Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2019, it had a fleet of 55 containerships aggregating 327,616 twenty foot equivalent units in capacity.

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