Danaos (NYSE:DAC) Hits New 12-Month High – What’s Next?

Danaos Corporation (NYSE:DAC)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $108.53 and last traded at $107.8750, with a volume of 9653 shares changing hands. The stock had previously closed at $108.05.

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 analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $105.00.

Danaos Price Performance

The company’s 50-day simple moving average is $99.35 and its 200 day simple moving average is $94.83. The company has a market capitalization of $2.05 billion, a P/E ratio of 4.04 and a beta of 1.08. 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 data on Monday, February 9th. The shipping company reported $7.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.46 by $0.68. The business had revenue of $266.27 million during the quarter, compared to analyst estimates of $253.00 million. Danaos had a net margin of 47.45% and a return on equity of 13.50%. As a group, sell-side analysts expect that Danaos Corporation will post 29.21 earnings per share for the current fiscal year.

Danaos Announces Dividend

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

Institutional Investors Weigh In On Danaos

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aristides Capital LLC bought a new position in Danaos in the 2nd quarter worth approximately $246,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Danaos in the second quarter valued at approximately $264,000. Hi Line Capital Management LLC boosted its position in shares of Danaos by 98.6% in the third quarter. Hi Line Capital Management LLC now owns 57,133 shares of the shipping company’s stock valued at $5,131,000 after acquiring an additional 28,365 shares during the period. Bastion Asset Management Inc. grew its stake in shares of Danaos by 50.6% in the second quarter. Bastion Asset Management Inc. now owns 37,514 shares of the shipping company’s stock worth $3,217,000 after acquiring an additional 12,606 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in Danaos during the second quarter worth $1,129,000. 19.01% of the stock is currently owned by institutional investors and hedge funds.

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.