Danaos (NYSE:DAC) Announces Quarterly Earnings Results, Misses Expectations By $0.26 EPS

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

Danaos Stock Down 0.4 %

DAC stock traded down $0.30 during trading on Wednesday, hitting $80.45. 13,288 shares of the stock traded hands, compared to its average volume of 106,378. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.89 and a quick ratio of 3.75. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 2.74 and a beta of 1.51. The firm’s 50 day moving average is $89.81 and its two-hundred day moving average is $80.43. Danaos has a 1 year low of $62.37 and a 1 year high of $98.25.

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Tuesday, August 20th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Tuesday, August 20th. Danaos’s dividend payout ratio (DPR) is 10.86%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their price objective on shares of Danaos from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th.

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.