Danaos Co. (NYSE:DAC) Short Interest Update

Danaos Co. (NYSE:DAC) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 466,300 shares, an increase of 8.1% from the October 31st total of 431,500 shares. Currently, 4.8% of the shares of the company are sold short. Based on an average daily volume of 110,500 shares, the days-to-cover ratio is presently 4.2 days.

Analysts Set New Price Targets

Several equities analysts recently commented on DAC shares. StockNews.com cut shares of Danaos from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Jefferies Financial Group restated a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research note on Tuesday, November 12th.

Danaos Price Performance

Shares of DAC stock traded down $1.13 during mid-day trading on Wednesday, reaching $80.89. The company’s stock had a trading volume of 58,222 shares, compared to its average volume of 108,341. Danaos has a 1-year low of $66.45 and a 1-year high of $98.25. The company has a market cap of $1.57 billion, a P/E ratio of 2.79 and a beta of 1.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. The firm’s 50-day moving average is $83.78 and its two-hundred day moving average is $85.36.

Danaos (NYSE:DAC) last posted its earnings results on Tuesday, November 12th. The shipping company reported $6.50 earnings per share for the quarter, missing the consensus estimate of $6.86 by ($0.36). Danaos had a return on equity of 16.68% and a net margin of 56.16%. The firm had revenue of $256.18 million during the quarter, compared to the consensus estimate of $251.16 million. During the same period in the previous year, the company posted $7.26 EPS. On average, research analysts predict that Danaos will post 27.56 earnings per share for the current year.

Danaos Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 25th will be issued a $0.85 dividend. This is a positive change from Danaos’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, November 25th. This represents a $3.40 annualized dividend and a dividend yield of 4.20%. Danaos’s dividend payout ratio is presently 11.76%.

Institutional Investors Weigh In On Danaos

Several large investors have recently made changes to their positions in DAC. nVerses Capital LLC bought a new stake in shares of Danaos in the 2nd quarter worth about $37,000. Farther Finance Advisors LLC bought a new stake in Danaos during the 3rd quarter worth about $53,000. Signaturefd LLC grew its holdings in Danaos by 21.4% during the 2nd quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after acquiring an additional 122 shares during the last quarter. Mather Group LLC. bought a new stake in Danaos during the 2nd quarter worth about $76,000. Finally, Blue Trust Inc. grew its holdings in Danaos by 7,620.0% during the 2nd quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company’s stock worth $107,000 after acquiring an additional 1,143 shares during the last quarter. Institutional investors own 19.01% of the company’s stock.

About Danaos

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.