Danaos Corporation (DAC) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Danaos Corporation (NYSE:DAC) released its earnings results on Monday, July 31st. The shipping company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05, Briefing.com reports. The firm had revenue of $113.88 million for the quarter, compared to analysts’ expectations of $108.01 million. Danaos Corporation had a positive return on equity of 16.72% and a negative net margin of 92.96%. The company’s quarterly revenue was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share.

Danaos Corporation (DAC) opened at 1.40 on Friday. The company has a 50-day moving average price of $1.86 and a 200 day moving average price of $1.83. The company’s market cap is $153.72 million. Danaos Corporation has a 52 week low of $1.25 and a 52 week high of $4.40.

DAC has been the topic of a number of analyst reports. BidaskClub raised Danaos Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. ValuEngine cut Danaos Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research cut Danaos Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $3.00 target price on shares of Danaos Corporation in a research note on Monday, July 10th. Five equities research analysts have rated the stock with a hold rating, Danaos Corporation presently has a consensus rating of “Hold” and a consensus target price of $2.25.

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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.

Earnings History for Danaos Corporation (NYSE:DAC)

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