BidaskClub upgraded shares of Danaos Corporation (NYSE:DAC) from a sell rating to a hold rating in a report issued on Friday morning.
A number of other brokerages also recently commented on DAC. Zacks Investment Research raised Danaos Corporation from a sell rating to a hold rating in a research report on Tuesday, April 25th. Jefferies Group LLC reissued a hold rating and set a $3.00 price objective on shares of Danaos Corporation in a research report on Monday, March 27th. Finally, ValuEngine downgraded Danaos Corporation from a buy rating to a hold rating in a research report on Friday, June 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $2.25.
Danaos Corporation (NYSE:DAC) traded up 17.65% during mid-day trading on Friday, hitting $3.00. 872,733 shares of the stock were exchanged. Danaos Corporation has a 12-month low of $1.25 and a 12-month high of $4.90. The firm’s market cap is $329.40 million. The company has a 50 day moving average of $1.42 and a 200 day moving average of $2.03.
Danaos Corporation (NYSE:DAC) last announced its quarterly earnings data on Tuesday, May 30th. The shipping company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.04. Danaos Corporation had a positive return on equity of 16.77% and a negative net margin of 83.21%. The business had revenue of $110.10 million during the quarter, compared to the consensus estimate of $104.37 million. During the same period in the previous year, the company posted $0.43 earnings per share. The business’s revenue for the quarter was down 19.9% on a year-over-year basis. On average, equities analysts anticipate that Danaos Corporation will post $0.89 earnings per share for the current fiscal year.
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A hedge fund recently raised its stake 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 Form 13F filing with the Securities and Exchange Commission. The firm 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 approximately 1.65% of Danaos Corporation worth $3,172,000 as of its most recent SEC filing. 2.21% of the stock is currently owned by hedge funds and other institutional investors.
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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