Danaos (NYSE:DAC) Issues Quarterly Earnings Results

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

Danaos Stock Up 1.2 %

Shares of NYSE DAC opened at $87.10 on Thursday. The business has a 50-day moving average of $82.71 and a 200-day moving average of $85.13. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 2.98 and a beta of 1.47. The company has a current ratio of 4.18, a quick ratio of 4.04 and a debt-to-equity ratio of 0.17. Danaos has a 12 month low of $66.45 and a 12 month high of $98.25.

Danaos Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 25th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Monday, November 25th. This is an increase from Danaos’s previous quarterly dividend of $0.80. Danaos’s dividend payout ratio (DPR) is 11.07%.

Wall Street Analysts Forecast Growth

DAC has been the subject of a number of analyst reports. StockNews.com lowered shares of Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group restated a “buy” rating and set a $105.00 price target on shares of Danaos in a research report on Tuesday.

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.