Danaos Corporation (DAC) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Danaos Corporation (NYSE:DAC) released its quarterly earnings data on Monday. The shipping company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04, Briefing.com reports. Danaos Corporation had a negative net margin of 92.96% and a positive return on equity of 16.72%. The firm had revenue of $113.59 million during the quarter, compared to analysts’ expectations of $107.58 million. During the same period in the previous year, the company earned $0.21 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis.
Danaos Corporation (NYSE:DAC) opened at 1.50 on Tuesday. The stock’s 50 day moving average is $1.46 and its 200 day moving average is $1.59. Danaos Corporation has a 12-month low of $1.25 and a 12-month high of $4.40. The stock’s market capitalization is $164.70 million.
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Several research analysts have recently weighed in on DAC shares. Jefferies Group LLC reissued a “hold” rating and set a $3.00 price objective on shares of Danaos Corporation in a report on Monday, July 10th. Zacks Investment Research cut shares of Danaos Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. BidaskClub raised shares of Danaos Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 14th. Finally, ValuEngine cut shares of Danaos Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.00.
About Danaos Corporation
Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company.
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