Danaos (NYSE:DAC) Stock Rating Reaffirmed by Clarkson Capital

Posted by on Jun 17th, 2022

Danaos (NYSE:DAC – Get Rating)‘s stock had its “buy” rating restated by equities research analysts at Clarkson Capital in a research report issued on Tuesday, PriceTargets.com reports.

Separately, StockNews.com lowered shares of Danaos from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $107.50.

Shares of NYSE:DAC opened at $68.41 on Tuesday. The company has a quick ratio of 2.82, a current ratio of 2.86 and a debt-to-equity ratio of 0.47. Danaos has a 12-month low of $58.00 and a 12-month high of $107.47. The firm has a fifty day moving average of $82.14 and a two-hundred day moving average of $84.46. The firm has a market capitalization of $1.42 billion, a P/E ratio of 1.30 and a beta of 1.47.

Danaos (NYSE:DAC – Get Rating) last released its quarterly earnings data on Monday, May 16th. The shipping company reported $11.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.11 by $5.25. Danaos had a net margin of 138.14% and a return on equity of 26.55%. The business had revenue of $229.90 million during the quarter, compared to analyst estimates of $212.86 million. During the same quarter in the previous year, the business earned $2.63 EPS. Equities research analysts expect that Danaos will post 32.5 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its position in Danaos by 1.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,894 shares of the shipping company’s stock worth $813,000 after acquiring an additional 117 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Danaos during the 1st quarter worth $27,000. Newbridge Financial Services Group Inc. acquired a new position in Danaos during the 1st quarter worth $31,000. Shilanski & Associates Inc. lifted its position in Danaos by 6.9% during the 4th quarter. Shilanski & Associates Inc. now owns 5,153 shares of the shipping company’s stock worth $385,000 after acquiring an additional 331 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Danaos by 6.1% during the 1st quarter. Qube Research & Technologies Ltd now owns 8,628 shares of the shipping company’s stock worth $885,000 after acquiring an additional 498 shares during the last quarter. 67.61% of the stock is owned by hedge funds and other institutional investors.

Danaos Company Profile (Get Rating)

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, 2022, it had a fleet of 71 containerships aggregating 436,589 twenty-foot equivalent units in capacity.

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