Danaos (NYSE:DAC) Issues Earnings Results, Beats Expectations By $0.49 EPS

Danaos (NYSE:DAC) released its earnings results on Monday. The shipping company reported $7.29 earnings per share for the quarter, beating the consensus estimate of $6.80 by $0.49, Zacks reports. Danaos had a return on equity of 13.18% and a net margin of 49.85%.

Danaos Stock Up 0.3%

NYSE DAC traded up $0.45 during trading hours on Monday, reaching $142.08. 107,715 shares of the company’s stock were exchanged, compared to its average volume of 89,345. The company’s 50-day moving average is $129.30 and its two-hundred day moving average is $119.19. Danaos has a one year low of $83.56 and a one year high of $143.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.40 and a current ratio of 8.66. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 5.01 and a beta of 0.89.

Danaos Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Tuesday, July 21st were given a $0.90 dividend. The ex-dividend date was Tuesday, July 21st. This represents a $3.60 annualized dividend and a dividend yield of 2.5%. Danaos’s payout ratio is currently 12.70%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DAC. O Shaughnessy Asset Management LLC increased its position in shares of Danaos by 3.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,671 shares of the shipping company’s stock worth $440,000 after acquiring an additional 165 shares in the last quarter. State Street Corp lifted its position in Danaos by 2.4% in the 4th quarter. State Street Corp now owns 15,761 shares of the shipping company’s stock valued at $1,484,000 after acquiring an additional 372 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Danaos in the 4th quarter valued at $43,000. Royal Bank of Canada lifted its position in Danaos by 443.1% in the 4th quarter. Royal Bank of Canada now owns 869 shares of the shipping company’s stock valued at $82,000 after acquiring an additional 709 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Danaos in the 2nd quarter worth $64,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DAC shares. Weiss Ratings upgraded shares of Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $105.00.

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.