Danaos (NYSE:DAC) Raised to “B” at TheStreet

TheStreet upgraded shares of Danaos (NYSE:DAC) from a c rating to a b rating in a research note published on Monday morning, TheStreetRatingsTable reports.

DAC has been the topic of a number of other reports. Zacks Investment Research lowered Danaos from a buy rating to a hold rating in a research note on Friday, May 7th. Jefferies Financial Group lifted their target price on Danaos from $50.00 to $60.00 and gave the company a buy rating in a research report on Thursday, March 25th. Finally, Fearnley Fonds assumed coverage on Danaos in a research report on Monday, March 29th. They issued a buy rating and a $67.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Danaos has an average rating of Buy and a consensus target price of $51.56.

Danaos stock opened at $55.58 on Monday. The stock has a market capitalization of $1.14 billion, a PE ratio of 9.06 and a beta of 1.72. Danaos has a 12 month low of $3.33 and a 12 month high of $67.40. The business has a 50 day simple moving average of $54.49 and a 200-day simple moving average of $32.76. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.75 and a quick ratio of 0.71.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Sunday, May 9th. The shipping company reported $2.83 EPS for the quarter, missing the Zacks’ consensus estimate of $2.87 by ($0.04). Danaos had a net margin of 31.89% and a return on equity of 17.25%. On average, equities research analysts anticipate that Danaos will post 7.12 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 9th. Investors of record on Thursday, May 27th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, May 26th. This represents a $2.00 annualized dividend and a dividend yield of 3.60%. Danaos’s dividend payout ratio is presently 21.81%.

Hedge funds have recently bought and sold shares of the stock. Capital Asset Advisory Services LLC purchased a new stake in shares of Danaos in the 4th quarter valued at $53,000. Lazard Asset Management LLC purchased a new stake in Danaos during the 4th quarter worth about $78,000. L & S Advisors Inc purchased a new stake in Danaos during the 1st quarter worth about $248,000. Wrapmanager Inc. purchased a new stake in Danaos during the 1st quarter worth about $293,000. Finally, Personal CFO Solutions LLC acquired a new position in shares of Danaos during the 1st quarter worth about $329,000. Hedge funds and other institutional investors own 23.49% of the company’s stock.

About Danaos

Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2021, it had a fleet of 65 containerships aggregating 403,793 twenty foot equivalent units in capacity.

Further Reading: Net Margin

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