ValuEngine upgraded shares of Danaos Corporation (NYSE:DAC) from a hold rating to a buy rating in a research report released on Monday morning.
Several other brokerages have also recently issued reports on DAC. BidaskClub raised shares of Danaos Corporation from a sell rating to a hold rating in a research note on Friday, July 14th. Jefferies Group LLC reissued a hold rating and issued a $3.00 price objective on shares of Danaos Corporation in a research note on Monday, July 10th. Finally, Zacks Investment Research cut shares of Danaos Corporation from a buy rating to a hold rating in a research note on Tuesday, August 15th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $3.00.
Danaos Corporation (NYSE:DAC) traded up 3.45% during mid-day trading on Monday, hitting $1.50. 29,084 shares of the stock were exchanged. The company has a 50 day moving average price of $1.47 and a 200 day moving average price of $1.63. The firm’s market cap is $164.70 million. Danaos Corporation has a 52-week low of $1.25 and a 52-week high of $4.40.
Danaos Corporation (NYSE:DAC) last announced its earnings results on Monday, July 31st. The shipping company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $113.88 million for the quarter, compared to analysts’ expectations of $108.01 million. Danaos Corporation had a negative net margin of 92.96% and a positive return on equity of 16.72%. The company’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 EPS. On average, analysts anticipate that Danaos Corporation will post $0.89 EPS for the current year.
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A hedge fund recently raised its stake in Danaos Corporation stock. Bank of New York Mellon Corp increased its holdings in Danaos Corporation (NYSE:DAC) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,802 shares of the shipping company’s stock after buying an additional 3,000 shares during the period. Bank of New York Mellon Corp owned about 0.10% of Danaos Corporation worth $193,000 as of its most recent SEC filing. Institutional investors own 1.89% of the company’s stock.
About Danaos Corporation
Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company.
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