Danaos (NYSE:DAC) Price Target Raised to $105.00

Danaos (NYSE:DAC) had its target price raised by Jefferies Financial Group from $90.00 to $105.00 in a report issued on Tuesday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the shipping company’s stock.

Danaos Stock Performance

DAC opened at $94.13 on Tuesday. The company has a current ratio of 2.98, a quick ratio of 2.84 and a debt-to-equity ratio of 0.13. Danaos has a 12-month low of $57.75 and a 12-month high of $94.73. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 3.20 and a beta of 1.30. The company’s 50 day moving average is $78.27 and its 200 day moving average is $74.46.

Danaos (NYSE:DAC) last released its quarterly earnings data on Tuesday, May 28th. The shipping company reported $7.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.71 by ($0.56). The company had revenue of $253.45 million for the quarter. Danaos had a net margin of 59.04% and a return on equity of 19.40%. During the same quarter in the prior year, the firm posted $7.14 EPS. On average, equities research analysts predict that Danaos will post 31.34 EPS for the current year.

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 11th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, June 11th. Danaos’s payout ratio is 10.86%.

Institutional Trading of Danaos

A number of large investors have recently made changes to their positions in the stock. Blue Trust Inc. bought a new position in Danaos in the fourth quarter worth about $25,000. Parallel Advisors LLC increased its holdings in shares of Danaos by 79.3% during the fourth quarter. Parallel Advisors LLC now owns 382 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 169 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Danaos by 45.2% during the third quarter. Signaturefd LLC now owns 524 shares of the shipping company’s stock valued at $35,000 after acquiring an additional 163 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of Danaos during the fourth quarter valued at about $49,000. Finally, Planned Solutions Inc. acquired a new position in shares of Danaos during the fourth quarter valued at about $70,000. 19.01% of the stock is owned by hedge funds and other institutional investors.

About Danaos

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.