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

Shares of Danaos Corporation (NYSE:DAC) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $112.20 and traded as high as $128.58. Danaos shares last traded at $127.1080, with a volume of 102,079 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on DAC shares. Freedom Capital upgraded shares of Danaos to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings upgraded Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research note 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $105.00.

Danaos Trading Up 0.9%

The company has a debt-to-equity ratio of 0.26, a current ratio of 8.66 and a quick ratio of 8.40. The business’s fifty day simple moving average is $126.30 and its 200 day simple moving average is $112.20. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 4.48 and a beta of 0.91.

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

Danaos Dividend Announcement

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

Hedge Funds Weigh In On Danaos

Large investors have recently bought and sold shares of the business. Aristides Capital LLC increased its stake in shares of Danaos by 4.1% in the third quarter. Aristides Capital LLC now owns 2,972 shares of the shipping company’s stock valued at $267,000 after buying an additional 116 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in Danaos by 3.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,671 shares of the shipping company’s stock worth $440,000 after buying an additional 165 shares in the last quarter. Parallel Advisors LLC lifted its position in Danaos by 33.2% during the 1st quarter. Parallel Advisors LLC now owns 1,171 shares of the shipping company’s stock worth $132,000 after buying an additional 292 shares in the last quarter. R Squared Ltd grew its holdings in Danaos by 12.0% during the 4th quarter. R Squared Ltd now owns 2,824 shares of the shipping company’s stock worth $266,000 after acquiring an additional 303 shares during the last quarter. Finally, State Street Corp grew its holdings in Danaos by 2.4% during the 4th quarter. State Street Corp now owns 15,761 shares of the shipping company’s stock worth $1,484,000 after acquiring an additional 372 shares during the last quarter. 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.