Danaos (NYSE:DAC) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Danaos (NYSE:DAC) posted its earnings results on Monday. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.02), Zacks reports. Danaos had a net margin of 56.16% and a return on equity of 16.68%.

Danaos Stock Up 1.1 %

Danaos stock opened at $80.95 on Tuesday. Danaos has a 52 week low of $69.33 and a 52 week high of $98.25. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 2.80 and a beta of 1.42. The company’s 50-day moving average price is $79.21 and its two-hundred day moving average price is $81.49. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19.

Analysts Set New Price Targets

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

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.