Danaos Corporation (DAC) To Go Ex-Dividend on December 2nd

Danaos Corporation (NYSE:DAC) declared a quarterly dividend on Monday, November 17th. Investors of record on Tuesday, December 2nd will be given a dividend of 0.90 per share by the shipping company on Thursday, December 11th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, December 2nd. This is a 5.9% increase from Danaos’s previous quarterly dividend of $0.85.

Danaos has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Danaos to earn $28.23 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 12.8%.

Danaos Trading Up 0.5%

Shares of DAC opened at $97.80 on Friday. The firm has a market cap of $1.86 billion, a P/E ratio of 4.03 and a beta of 1.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.36 and a quick ratio of 5.21. Danaos has a 1 year low of $65.40 and a 1 year high of $98.42. The company has a 50 day simple moving average of $90.80 and a two-hundred day simple moving average of $90.17.

Danaos (NYSE:DAC) last issued its earnings results on Monday, November 17th. The shipping company reported $6.75 earnings per share for the quarter, missing analysts’ consensus estimates of $7.17 by ($0.42). The company had revenue of $260.73 million for the quarter, compared to the consensus estimate of $257.63 million. Danaos had a return on equity of 13.88% and a net margin of 44.62%.During the same quarter in the prior year, the company posted $6.50 EPS. On average, equities analysts expect that Danaos will post 29.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DAC shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $105.00 target price on shares of Danaos in a report on Tuesday, August 5th. Weiss Ratings restated a “buy (b)” rating on shares of Danaos in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $105.00.

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.