Danaos Co. (DAC) Receives Consensus Rating of “Hold” from Analysts

Shares of Danaos Co. (NYSE:DAC) have been given an average rating of “Hold” by the six research firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $3.00.

DAC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Danaos from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Jefferies Group restated a “hold” rating and issued a $3.00 price objective on shares of Danaos in a research report on Tuesday, October 24th. Finally, ValuEngine upgraded shares of Danaos from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd.

Shares of Danaos (NYSE:DAC) traded up $0.05 on Friday, hitting $1.55. 61,500 shares of the stock traded hands, compared to its average volume of 31,600. Danaos has a twelve month low of $1.25 and a twelve month high of $3.20. The firm has a market capitalization of $167.60, a P/E ratio of -0.41 and a beta of 1.31.

Danaos (NYSE:DAC) last announced its earnings results on Monday, October 30th. The shipping company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. Danaos had a negative net margin of 85.72% and a positive return on equity of 21.68%. The business had revenue of $113.59 million during the quarter, compared to the consensus estimate of $107.58 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. analysts anticipate that Danaos will post 0.74 earnings per share for the current year.

A hedge fund recently raised its stake in Danaos stock. Bank of New York Mellon Corp boosted its position in Danaos Co. (NYSE:DAC) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,802 shares of the shipping company’s stock after purchasing an additional 3,000 shares during the period. Bank of New York Mellon Corp owned about 0.10% of Danaos worth $193,000 as of its most recent filing with the Securities & Exchange Commission. 1.98% of the stock is currently owned by institutional investors and hedge funds.

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About Danaos

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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