Danaos (NYSE:DAC) Issues Quarterly Earnings Results

Danaos (NYSE:DAC) released its earnings results on Monday. The shipping company reported $6.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.04 by ($0.26), Yahoo Finance reports. The company had revenue of $246.31 million during the quarter, compared to analysts’ expectations of $238.83 million. Danaos had a net margin of 59.04% and a return on equity of 18.99%. During the same quarter in the previous year, the firm posted $7.14 earnings per share.

Danaos Stock Down 0.1 %

Shares of DAC traded down $0.05 during midday trading on Wednesday, reaching $80.70. 69,495 shares of the company were exchanged, compared to its average volume of 106,750. Danaos has a 1-year low of $62.37 and a 1-year high of $98.25. The stock has a 50-day moving average price of $89.66 and a 200-day moving average price of $80.46. The company has a current ratio of 3.89, a quick ratio of 3.75 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 2.74 and a beta of 1.51.

Danaos Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Tuesday, August 20th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.97%. The ex-dividend date is Tuesday, August 20th. Danaos’s dividend payout ratio (DPR) is presently 10.86%.

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their price target on Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th.

About Danaos

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.