Danaos Corporation (DAC) Stock Rating Lowered by ValuEngine

Danaos Corporation (NYSE:DAC) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday, September 1st.

A number of other research firms have also recently weighed in on DAC. Jefferies Group LLC restated a “hold” rating and set a $3.00 target price on shares of Danaos Corporation in a research note on Wednesday, August 16th. Zacks Investment Research cut shares of Danaos Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, BidaskClub upgraded shares of Danaos Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Five investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $2.25.

Shares of Danaos Corporation (NYSE DAC) traded up 7.14% during midday trading on Friday, hitting $1.50. The company had a trading volume of 18,043 shares. The stock has a 50 day moving average price of $1.56 and a 200 day moving average price of $1.66. Danaos Corporation has a 1-year low of $1.25 and a 1-year high of $4.40. The firm’s market capitalization is $164.70 million.

Danaos Corporation (NYSE:DAC) last released its earnings results on Monday, July 31st. The shipping company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. Danaos Corporation had a negative net margin of 92.96% and a positive return on equity of 16.72%. The company had revenue of $113.88 million for the quarter, compared to analysts’ expectations of $108.01 million. During the same quarter in the previous year, the company earned $0.43 EPS. Danaos Corporation’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, equities analysts anticipate that Danaos Corporation will post $0.89 EPS for the current fiscal year.

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An institutional investor recently raised its position in Danaos Corporation stock. Neuberger Berman Group LLC boosted its stake in Danaos Corporation (NYSE:DAC) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,812,724 shares of the shipping company’s stock after purchasing an additional 58,705 shares during the quarter. Neuberger Berman Group LLC owned about 1.65% of Danaos Corporation worth $3,172,000 as of its most recent SEC filing. 1.89% of the stock is currently owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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