Danaos (NYSE:DAC) Shares Pass Above 200-Day Moving Average – Here’s Why

Danaos Corporation (NYSE:DAC)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $117.09 and traded as high as $133.05. Danaos shares last traded at $131.9650, with a volume of 90,422 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Fearnley Fonds upgraded Danaos from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Danaos presently has an average rating of “Buy” and a consensus target price of $105.00.

Danaos Price Performance

The company has a current ratio of 8.66, a quick ratio of 8.40 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $128.13 and a 200-day simple moving average of $117.09. The firm has a market cap of $2.40 billion, a PE ratio of 4.65 and a beta of 0.89.

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

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Tuesday, July 21st will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, July 21st. Danaos’s dividend payout ratio (DPR) is 12.70%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new stake in Danaos in the 4th quarter worth $43,000. Ascentis Independent Advisors purchased a new position in shares of Danaos during the first quarter valued at about $56,000. Raymond James Financial Inc. purchased a new position in shares of Danaos during the second quarter valued at about $64,000. Tower Research Capital LLC TRC bought a new stake in shares of Danaos in the second quarter worth about $67,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Danaos by 165.0% in the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock worth $73,000 after purchasing an additional 485 shares during the last quarter. 19.01% of the stock is currently owned by institutional investors.

About Danaos

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.