Danaos (NYSE:DAC) Releases Quarterly Earnings Results, Misses Estimates By $0.26 EPS

Danaos (NYSE:DAC) issued its quarterly earnings results on Monday. The shipping company reported $6.78 EPS for the quarter, missing analysts’ consensus estimates of $7.04 by ($0.26), Yahoo Finance reports. The business had revenue of $246.31 million for the quarter, compared to analyst estimates of $238.83 million. Danaos had a return on equity of 18.99% and a net margin of 59.04%. During the same quarter last year, the firm posted $7.14 EPS.

Danaos Stock Down 0.0 %

Shares of NYSE DAC traded down $0.03 during mid-day trading on Wednesday, reaching $80.72. 69,495 shares of the company’s stock traded hands, compared to its average volume of 106,750. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.89 and a quick ratio of 3.75. Danaos has a 1-year low of $62.37 and a 1-year high of $98.25. The stock has a market cap of $1.57 billion, a P/E ratio of 2.74 and a beta of 1.51. The business has a 50-day simple moving average of $89.66 and a 200 day simple moving average of $80.46.

Danaos Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Tuesday, August 20th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Tuesday, August 20th. Danaos’s dividend payout ratio (DPR) is 10.86%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lifted their target price on shares of Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th.

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.