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

Danaos Corporation (NYSE:DAC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $109.91 and traded as high as $129.86. Danaos shares last traded at $129.4090, with a volume of 47,436 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Freedom Capital upgraded shares of Danaos to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings raised Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, May 6th. Finally, Fearnley Fonds upgraded Danaos from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Danaos presently has an average rating of “Buy” and a consensus target price of $105.00.

Danaos Stock Down 1.4%

The company has a quick ratio of 8.40, a current ratio of 8.66 and a debt-to-equity ratio of 0.26. The firm has a 50 day simple moving average of $124.19 and a 200-day simple moving average of $110.40. The stock has a market cap of $2.34 billion, a P/E ratio of 4.53 and a beta of 0.91.

Danaos (NYSE:DAC) last released its quarterly earnings data on Monday, May 11th. The shipping company reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.86 by $0.86. The firm had revenue of $253.70 million for the quarter, compared to analyst estimates of $242.20 million. Danaos had a return on equity of 13.18% and a net margin of 49.85%.

Danaos Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, May 26th. This represents a $3.60 annualized dividend and a yield of 2.8%. Danaos’s dividend payout ratio (DPR) is 12.70%.

Institutional Trading of Danaos

Institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in Danaos in the 4th quarter valued at $43,000. Ascentis Independent Advisors bought a new stake in Danaos in the 1st quarter valued at $56,000. Raymond James Financial Inc. bought a new stake in Danaos in the 2nd quarter valued at $64,000. Tower Research Capital LLC TRC acquired a new stake in shares of Danaos in the second quarter valued at approximately $67,000. Finally, Farther Finance Advisors LLC raised its position in shares of 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 buying an additional 485 shares in the last quarter. 19.01% of the stock is currently owned by institutional investors.

About Danaos

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.