Danaos (NYSE:DAC) Posts Earnings Results

Danaos (NYSE:DAC) issued its quarterly earnings data on Tuesday. The shipping company reported $6.50 EPS for the quarter, missing analysts’ consensus estimates of $6.86 by ($0.36), Zacks reports. Danaos had a net margin of 56.16% and a return on equity of 17.00%. The company had revenue of $256.18 million for the quarter, compared to analyst estimates of $251.16 million. During the same period in the prior year, the company posted $7.26 EPS.

Danaos Trading Down 0.1 %

Shares of DAC traded down $0.07 during trading hours on Thursday, hitting $85.96. 259,479 shares of the stock traded hands, compared to its average volume of 106,959. The business has a fifty day moving average of $82.85 and a 200-day moving average of $85.13. The firm has a market capitalization of $1.67 billion, a PE ratio of 3.01 and a beta of 1.47. Danaos has a 1-year low of $66.45 and a 1-year high of $98.25. The company has a current ratio of 4.18, a quick ratio of 4.04 and a debt-to-equity ratio of 0.17.

Danaos Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.96%. The ex-dividend date is Monday, November 25th. This is a boost from Danaos’s previous quarterly dividend of $0.80. Danaos’s dividend payout ratio (DPR) is presently 11.07%.

Analysts Set New Price Targets

DAC has been the subject of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $105.00 target price on shares of Danaos in a research note on Tuesday. StockNews.com downgraded shares of Danaos from a “buy” rating to a “hold” rating in a research note on Tuesday.

Danaos Company Profile

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.