Shares of Danaos Co. (NYSE:DAC) shot up 5.4% during mid-day trading on Friday . The stock traded as high as $10.94 and last traded at $10.93, 600 shares changed hands during trading. A decline of 99% from the average session volume of 52,431 shares. The stock had previously closed at $10.37.
Several brokerages have recently issued reports on DAC. Zacks Investment Research upgraded Danaos from a “hold” rating to a “strong-buy” rating and set a $7.75 price target on the stock in a research report on Thursday, August 15th. ValuEngine upgraded Danaos from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd.
The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $134.09 million, a price-to-earnings ratio of 0.91 and a beta of 1.24. The stock has a fifty day moving average of $8.05 and a 200-day moving average of $7.54.
Danaos (NYSE:DAC) last issued its earnings results on Monday, August 5th. The shipping company reported $2.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.14. The business had revenue of $112.32 million for the quarter, compared to analysts’ expectations of $106.40 million. Danaos had a return on equity of 19.24% and a net margin of 2.14%. As a group, equities research analysts forecast that Danaos Co. will post 8.61 earnings per share for the current fiscal year.
Danaos Company Profile (NYSE:DAC)
Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2019, it had a fleet of 55 containerships aggregating 327,616 twenty foot equivalent units in capacity.
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