Danaos (NYSE:DAC) Announces Quarterly Earnings Results

Danaos (NYSE:DAC) posted its earnings results on Tuesday. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.86 by ($0.36), Zacks reports. The firm had revenue of $256.18 million during the quarter, compared to the consensus estimate of $251.16 million. Danaos had a net margin of 56.16% and a return on equity of 17.00%. During the same quarter in the prior year, the business posted $7.26 earnings per share.

Danaos Stock Up 3.4 %

Shares of NYSE:DAC traded up $2.84 during midday trading on Wednesday, reaching $85.53. The company’s stock had a trading volume of 108,579 shares, compared to its average volume of 105,659. The company has a quick ratio of 4.04, a current ratio of 4.18 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $82.65 and a 200-day moving average of $85.08. The firm has a market capitalization of $1.66 billion, a P/E ratio of 2.94 and a beta of 1.47. Danaos has a 12-month low of $64.96 and a 12-month high of $98.25.

Wall Street Analyst Weigh In

DAC has been the topic of several recent research reports. StockNews.com lowered Danaos from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group reiterated a “buy” rating and issued a $105.00 price target on shares of Danaos in a report on Tuesday.

Danaos Company Profile

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.