Danaos (NYSE:DAC) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Danaos Corporation (NYSE:DAC) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $92.82 and traded as high as $101.31. Danaos shares last traded at $99.3970, with a volume of 57,180 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Danaos currently has a consensus rating of “Buy” and a consensus target price of $105.00.

Danaos Trading Down 2.0%

The company has a market cap of $1.89 billion, a PE ratio of 3.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.51 and a current ratio of 4.62. The company has a 50 day simple moving average of $96.08 and a two-hundred day simple moving average of $92.82.

Danaos (NYSE:DAC) last posted its quarterly earnings results on Monday, November 17th. The shipping company reported $6.75 EPS for the quarter, missing the consensus estimate of $7.17 by ($0.42). Danaos had a return on equity of 13.49% and a net margin of 45.16%.The company had revenue of $260.73 million for the quarter, compared to analyst estimates of $257.63 million. During the same quarter in the prior year, the business posted $6.50 earnings per share. Sell-side analysts forecast that Danaos Corporation will post 29.21 EPS for the current year.

Danaos Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, December 2nd were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, December 2nd. This represents a $3.60 annualized dividend and a dividend yield of 3.6%. This is a positive change from Danaos’s previous quarterly dividend of $0.85. Danaos’s dividend payout ratio is presently 14.37%.

Institutional Investors Weigh In On Danaos

Several institutional investors and hedge funds have recently modified their holdings of the business. Assetmark Inc. lifted its holdings in Danaos by 15,500.0% in the 2nd quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock worth $40,000 after purchasing an additional 465 shares during the last quarter. Raymond James Financial Inc. bought a new position in Danaos in the 2nd quarter worth $64,000. Tower Research Capital LLC TRC bought a new position in Danaos in the 2nd quarter worth $67,000. TD Waterhouse Canada Inc. acquired a new position in Danaos during the 2nd quarter worth $107,000. Finally, State of Wyoming boosted its holdings in Danaos by 205.3% during the second quarter. State of Wyoming now owns 2,128 shares of the shipping company’s stock valued at $184,000 after acquiring an additional 1,431 shares during the period. Institutional investors and hedge funds own 19.01% of the company’s stock.

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.