Danaos Corporation (NYSE:DAC) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $3.00.
A number of research firms have recently commented on DAC. ValuEngine upgraded shares of Danaos Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Jefferies Group LLC restated a “hold” rating and set a $3.00 price objective on shares of Danaos Corporation in a report on Wednesday, August 16th. Finally, Zacks Investment Research downgraded shares of Danaos Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th.
An institutional investor recently raised its position in Danaos Corporation stock. Bank of New York Mellon Corp lifted its position in Danaos Corporation (NYSE:DAC) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,802 shares of the shipping company’s stock after buying an additional 4,383 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.10% of Danaos Corporation worth $194,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 1.90% of the company’s stock.
Shares of Danaos Corporation (DAC) traded down $0.03 during trading on Thursday, reaching $1.60. 72,400 shares of the company’s stock traded hands, compared to its average volume of 79,220. Danaos Corporation has a twelve month low of $1.25 and a twelve month high of $4.40. The firm has a market cap of $178.42, a PE ratio of 1.69 and a beta of 1.33.
Danaos Corporation (NYSE:DAC) last issued its earnings results on Monday, October 30th. The shipping company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. The company had revenue of $113.59 million during the quarter, compared to analysts’ expectations of $107.58 million. Danaos Corporation had a negative net margin of 85.72% and a positive return on equity of 21.68%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. equities research analysts anticipate that Danaos Corporation will post 0.74 earnings per share for the current fiscal year.
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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