Shares of Danaos Corporation (NYSE:DAC) have been given an average recommendation of “Hold” by the six brokerages that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $2.25.
Several equities research analysts have weighed in on DAC shares. Zacks Investment Research upgraded shares of Danaos Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Jefferies Group LLC restated a “hold” rating and set a $3.00 price objective on shares of Danaos Corporation in a report on Monday, March 27th. BidaskClub upgraded shares of Danaos Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 14th. Finally, ValuEngine lowered shares of Danaos Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
Danaos Corporation (DAC) traded down 8.16% on Friday, hitting $2.25. The company’s stock had a trading volume of 381,263 shares. Danaos Corporation has a 1-year low of $1.25 and a 1-year high of $4.90. The company’s market capitalization is $247.05 million. The company has a 50 day moving average price of $1.65 and a 200-day moving average price of $1.95.
Danaos Corporation (NYSE:DAC) last posted its earnings results on Tuesday, May 30th. The shipping company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The company had revenue of $110.10 million for the quarter, compared to analyst estimates of $104.37 million. Danaos Corporation had a negative net margin of 83.21% and a positive return on equity of 16.77%. The business’s revenue for the quarter was down 19.9% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. On average, equities analysts forecast 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. Neuberger Berman Group LLC raised its position in shares of Danaos Corporation (NYSE:DAC) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,812,724 shares of the shipping company’s stock after buying an additional 58,705 shares during the period. Neuberger Berman Group LLC owned 1.65% of Danaos Corporation worth $3,172,000 at the end of the most recent reporting period. 2.21% of the stock is owned by institutional investors.
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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