Danaos Corporation (DAC) Receives $3.00 Average Target Price from Analysts

Shares of Danaos Corporation (NYSE:DAC) have been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $3.00.

A number of brokerages have recently issued reports on DAC. Zacks Investment Research lowered shares of Danaos Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Jefferies Group LLC restated a “hold” rating and issued a $3.00 target price on shares of Danaos Corporation in a research note on Tuesday. ValuEngine upgraded shares of Danaos Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, BidaskClub upgraded shares of Danaos Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 14th.

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Danaos Corporation (NYSE:DAC) remained flat at $1.50 during mid-day trading on Friday. 38,618 shares of the company’s stock were exchanged. The firm’s market capitalization is $164.70 million. The stock has a 50-day moving average price of $1.45 and a 200 day moving average price of $1.60. Danaos Corporation has a 12-month low of $1.25 and a 12-month high of $4.40.

Danaos Corporation (NYSE:DAC) last issued its earnings results on Monday, July 31st. The shipping company reported $0.26 earnings per share (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 analyst estimates 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 revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 EPS. On average, analysts expect that Danaos Corporation will post $0.89 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Danaos Corporation stock. Bank of New York Mellon Corp increased its holdings in shares of Danaos Corporation (NYSE:DAC) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,802 shares of the shipping company’s stock after acquiring an additional 3,000 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.10% of Danaos Corporation worth $193,000 at the end of the most recent quarter. Institutional investors own 1.89% of the company’s stock.

Danaos Corporation Company Profile

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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