Danaos (NYSE:DAC) Stock Crosses Above 200 Day Moving Average – What’s Next?

Danaos Corporation (NYSE:DAC) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $108.37 and traded as high as $126.83. Danaos shares last traded at $124.9970, with a volume of 167,556 shares traded.

Analyst Ratings Changes

DAC has been the topic of a number of recent analyst reports. Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Freedom Capital raised shares of Danaos to a “hold” rating in a research note on Tuesday, March 10th. Finally, Weiss Ratings raised shares of Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $105.00.

Danaos Price Performance

The business’s 50 day moving average is $121.55 and its 200-day moving average is $108.37. The firm has a market capitalization of $2.28 billion, a P/E ratio of 4.41 and a beta of 0.90. The company has a quick ratio of 8.40, a current ratio of 8.66 and a debt-to-equity ratio of 0.26.

Danaos (NYSE:DAC) last announced its quarterly earnings data on Monday, May 11th. The shipping company reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.86 by $0.86. The business had revenue of $253.70 million for the quarter, compared to analysts’ expectations of $242.20 million. Danaos had a net margin of 49.85% and a return on equity of 13.18%.

Danaos Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Tuesday, May 26th will be given a $0.90 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $3.60 dividend on an annualized basis and a yield of 2.9%. Danaos’s dividend payout ratio (DPR) is currently 12.70%.

Institutional Trading of Danaos

A number of hedge funds have recently added to or reduced their stakes in the stock. Aristides Capital LLC lifted its holdings in shares of Danaos by 4.1% during the third quarter. Aristides Capital LLC now owns 2,972 shares of the shipping company’s stock worth $267,000 after purchasing an additional 116 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings 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 purchasing an additional 165 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Danaos by 33.2% during the first quarter. Parallel Advisors LLC now owns 1,171 shares of the shipping company’s stock worth $132,000 after purchasing an additional 292 shares during the period. R Squared Ltd lifted its holdings in shares of Danaos by 12.0% during the fourth quarter. R Squared Ltd now owns 2,824 shares of the shipping company’s stock worth $266,000 after purchasing an additional 303 shares during the period. Finally, State Street Corp lifted its holdings in shares of Danaos by 2.4% during the fourth quarter. State Street Corp now owns 15,761 shares of the shipping company’s stock worth $1,484,000 after purchasing an additional 372 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.