Danaos Corporation (DAC) Receives $3.00 Consensus Target Price from Brokerages
Danaos Corporation (NYSE:DAC) has been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $3.00.
DAC has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Danaos Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Jefferies Group LLC reaffirmed a “hold” rating and set a $3.00 price target on shares of Danaos Corporation in a research report on Wednesday, August 16th. Finally, ValuEngine downgraded Danaos Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.
An institutional investor recently raised its position in Danaos Corporation stock. Bank of New York Mellon Corp boosted its position in Danaos Corporation (NYSE:DAC) by 4.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,802 shares of the shipping company’s stock after buying an additional 4,383 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.10% of Danaos Corporation worth $194,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 1.90% of the stock is owned by institutional investors.
Shares of Danaos Corporation (NYSE DAC) traded down $0.05 on Thursday, hitting $1.60. The company had a trading volume of 115,047 shares, compared to its average volume of 79,253. The stock has a market capitalization of $181.17, a P/E ratio of 1.67 and a beta of 1.33. Danaos Corporation has a one year low of $1.25 and a one year high of $3.85.
Danaos Corporation (NYSE:DAC) last issued its quarterly earnings results on Monday, October 30th. The shipping company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04. The company had revenue of $113.59 million during the quarter, compared to the consensus estimate of $107.58 million. Danaos Corporation had a positive return on equity of 21.68% and a negative net margin of 85.72%. Danaos Corporation’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the business posted $0.21 earnings per share. equities analysts forecast that Danaos Corporation will post 0.74 EPS for the current fiscal year.
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.
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