Danaos (NYSE:DAC) Announces Earnings Results

Danaos (NYSE:DAC) posted its quarterly earnings results on Monday. The shipping company reported $6.78 EPS for the quarter, missing analysts’ consensus estimates of $7.04 by ($0.26), Yahoo Finance reports. The company had revenue of $246.31 million during the quarter, compared to analyst estimates of $238.83 million. Danaos had a return on equity of 18.99% and a net margin of 59.04%. During the same quarter in the previous year, the business posted $7.14 earnings per share.

Danaos Stock Down 0.4 %

Shares of Danaos stock traded down $0.30 during trading hours on Wednesday, reaching $80.45. The company’s stock had a trading volume of 13,288 shares, compared to its average volume of 106,378. Danaos has a one year low of $62.37 and a one year high of $98.25. The company has a market capitalization of $1.56 billion, a P/E ratio of 2.74 and a beta of 1.51. The stock’s fifty day simple moving average is $89.81 and its two-hundred day simple moving average is $80.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.75 and a current ratio of 3.89.

Danaos Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Tuesday, August 20th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Tuesday, August 20th. Danaos’s dividend payout ratio (DPR) is 10.86%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised their price target on shares of Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th.

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.