Danaos (NYSE:DAC) Shares Down 4.6% – Should You Sell?

Shares of Danaos Co. (NYSE:DAC) traded down 4.6% during mid-day trading on Monday . The stock traded as low as $82.00 and last traded at $82.00. 50,001 shares traded hands during trading, a decline of 53% from the average session volume of 106,775 shares. The stock had previously closed at $85.91.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DAC shares. StockNews.com lowered shares of Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Jefferies Financial Group restated a “buy” rating and set a $105.00 target price on shares of Danaos in a research report on Tuesday, November 12th.

Danaos Stock Down 0.4 %

The company has a market capitalization of $1.53 billion, a PE ratio of 2.76 and a beta of 1.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78. The firm has a 50-day simple moving average of $83.97 and a 200 day simple moving average of $85.52.

Danaos (NYSE:DAC) last issued its quarterly earnings results on Tuesday, November 12th. The shipping company reported $6.50 earnings per share for the quarter, missing analysts’ consensus estimates of $6.86 by ($0.36). 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 16.68%. During the same quarter last year, the firm posted $7.26 earnings per share. On average, research analysts predict that Danaos Co. will post 27.56 EPS for the current fiscal year.

Danaos Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 25th will be paid a dividend of $0.85 per share. The ex-dividend date is Monday, November 25th. This is a positive change from Danaos’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 4.31%. Danaos’s dividend payout ratio is currently 11.76%.

Institutional Investors Weigh In On Danaos

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in shares of Danaos by 33.5% during the 2nd quarter. Acadian Asset Management LLC now owns 788,905 shares of the shipping company’s stock worth $72,823,000 after purchasing an additional 197,904 shares in the last quarter. Gordian Capital Singapore Pte Ltd grew its holdings in shares of Danaos by 17,600,000.0% in the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock valued at $16,255,000 after acquiring an additional 176,000 shares in the last quarter. TrueMark Investments LLC acquired a new position in Danaos during the second quarter worth $1,734,000. Marshall Wace LLP acquired a new stake in Danaos during the 2nd quarter valued at $1,250,000. Finally, Sei Investments Co. raised its stake in Danaos by 56.9% in the 2nd quarter. Sei Investments Co. now owns 32,242 shares of the shipping company’s stock worth $2,978,000 after purchasing an additional 11,687 shares in the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.

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.