Danaos (NYSE:DAC) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Danaos Corporation (NYSE:DAC) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $109.91 and traded as high as $129.86. Danaos shares last traded at $129.4090, with a volume of 47,436 shares changing hands.

Analysts Set New Price Targets

DAC has been the topic of a number of analyst reports. Freedom Capital raised Danaos to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings raised Danaos from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, May 6th. Finally, Fearnley Fonds raised Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $105.00.

Danaos Price Performance

The company has a 50 day moving average price of $123.43 and a 200 day moving average price of $109.91. The firm has a market cap of $2.36 billion, a PE ratio of 4.56 and a beta of 0.91. The company has a current ratio of 8.66, a quick ratio of 8.40 and a debt-to-equity ratio of 0.26.

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

Danaos Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, May 26th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $3.60 annualized dividend and a dividend yield of 2.8%. Danaos’s payout ratio is 12.70%.

Institutional Investors Weigh In On Danaos

Institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new stake in shares of Danaos during the 4th quarter worth approximately $43,000. Ascentis Independent Advisors purchased a new stake in shares of Danaos during the 1st quarter worth approximately $56,000. Raymond James Financial Inc. purchased a new stake in shares of Danaos during the 2nd quarter worth approximately $64,000. Tower Research Capital LLC TRC purchased a new stake in shares of Danaos during the 2nd quarter worth approximately $67,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Danaos by 165.0% during the 4th quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock worth $73,000 after acquiring an additional 485 shares in the last quarter. Hedge funds and other institutional investors 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.