Danaos (NYSE:DAC) Stock Crosses Above 200-Day Moving Average – Here’s Why

Danaos Corporation (NYSE:DAC) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $97.95 and traded as high as $114.73. Danaos shares last traded at $113.77, with a volume of 86,405 shares changing hands.

Analyst Upgrades and Downgrades

DAC has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Danaos in a research report on Wednesday, January 21st. Freedom Capital upgraded Danaos to a “hold” rating in a report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

Danaos Stock Performance

The company has a market cap of $2.06 billion, a price-to-earnings ratio of 4.22 and a beta of 0.98. The firm’s 50 day simple moving average is $107.80 and its 200-day simple moving average is $98.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.23 and a current ratio of 3.28.

Danaos (NYSE:DAC) last issued its earnings results on Monday, February 9th. The shipping company reported $7.14 EPS for the quarter, beating analysts’ consensus estimates of $6.46 by $0.68. The business had revenue of $266.27 million during the quarter, compared to analysts’ expectations of $253.00 million. Danaos had a net margin of 47.45% and a return on equity of 13.31%. On average, sell-side analysts predict that Danaos Corporation will post 29.21 EPS for the current year.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Monday, February 23rd. Danaos’s dividend payout ratio (DPR) is 13.44%.

Institutional Investors Weigh In On Danaos

A number of large investors have recently made changes to their positions in the stock. Ion Asset Management Ltd. lifted its position in Danaos by 15.5% during the second quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock worth $56,428,000 after buying an additional 87,614 shares in the last quarter. ION Fund Management Ltd acquired a new position in Danaos during the fourth quarter worth $39,538,000. Millennium Management LLC boosted its stake in Danaos by 161.8% during the third quarter. Millennium Management LLC now owns 133,401 shares of the shipping company’s stock worth $11,981,000 after buying an additional 82,450 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Danaos by 13.8% in the 4th quarter. JPMorgan Chase & Co. now owns 111,750 shares of the shipping company’s stock valued at $10,525,000 after buying an additional 13,571 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Danaos by 58.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 106,089 shares of the shipping company’s stock worth $9,991,000 after acquiring an additional 38,958 shares during the last quarter. 19.01% of the stock is currently 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.