Danaos (NYSE:DAC) Sets New 1-Year High – What’s Next?

Danaos Corporation (NYSE:DAC) reached a new 52-week high during trading on Monday . The company traded as high as $145.32 and last traded at $144.3710, with a volume of 13135 shares. The stock had previously closed at $141.92.

Wall Street Analyst Weigh In

DAC has been the topic of a number of research analyst reports. Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Freedom Capital raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the company has a consensus rating of “Strong Buy”.

Danaos Trading Up 2.7%

The company has a debt-to-equity ratio of 0.29, a current ratio of 9.30 and a quick ratio of 9.15. The firm has a fifty day simple moving average of $131.56 and a two-hundred day simple moving average of $121.97. The firm has a market capitalization of $2.65 billion, a P/E ratio of 4.94 and a beta of 0.89.

Danaos (NYSE:DAC) last issued its earnings results on Monday, August 3rd. The shipping company reported $7.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.80 by $0.49. Danaos had a return on equity of 13.20% and a net margin of 51.26%.The firm had revenue of $274.37 million for the quarter, compared to analyst estimates of $258.27 million.

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Tuesday, July 21st were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, July 21st. Danaos’s payout ratio is currently 12.18%.

Institutional Investors Weigh In On Danaos

Several institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new position in Danaos during the fourth quarter worth about $43,000. Ascentis Independent Advisors purchased a new stake in shares of Danaos during the 1st quarter valued at approximately $56,000. Raymond James Financial Inc. purchased a new stake in shares of Danaos during the 2nd quarter valued at approximately $64,000. Tower Research Capital LLC TRC bought a new position in Danaos in the 2nd quarter worth approximately $67,000. Finally, Farther Finance Advisors LLC boosted 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 worth $73,000 after buying an additional 485 shares during the period. 19.01% of the stock is owned by hedge funds and other 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.