Danaos (NYSE:DAC) Reaches New 1-Year High – What’s Next?

Danaos Corporation (NYSE:DAC)’s share price reached a new 52-week high on Monday . The company traded as high as $110.00 and last traded at $108.4410, with a volume of 202 shares. The stock had previously closed at $109.98.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Danaos presently has a consensus rating of “Buy” and an average price target of $105.00.

Danaos Trading Down 1.2%

The company has a market capitalization of $2.06 billion, a PE ratio of 4.03 and a beta of 1.08. The stock’s 50 day moving average is $99.95 and its two-hundred day moving average is $95.06. The company has a quick ratio of 4.51, a current ratio of 4.62 and a debt-to-equity ratio of 0.18.

Danaos (NYSE:DAC) last released its quarterly earnings results on Monday, February 9th. The shipping company reported $7.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.46 by $0.68. Danaos had a net margin of 47.45% and a return on equity of 13.50%. The business had revenue of $266.27 million for the quarter, compared to analyst estimates of $253.00 million. As a group, sell-side analysts predict that Danaos Corporation will post 29.21 EPS for the current fiscal year.

Danaos Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be paid a $0.90 dividend. The ex-dividend date is Monday, February 23rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.3%. Danaos’s dividend payout ratio is presently 13.44%.

Hedge Funds Weigh In On Danaos

Several institutional investors have recently made changes to their positions in the company. Assetmark Inc. boosted its stake in shares of Danaos by 15,500.0% during the 2nd quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock worth $40,000 after acquiring an additional 465 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Danaos in the 4th quarter valued at about $43,000. Raymond James Financial Inc. acquired a new position in Danaos in the 2nd quarter worth about $64,000. Tower Research Capital LLC TRC purchased a new position in Danaos during the second quarter worth approximately $67,000. Finally, Farther Finance Advisors LLC grew its holdings in Danaos by 165.0% in the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 485 shares during the period. 19.01% of the stock is 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.