Danaos Corporation (NYSE:DAC)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group LLC in a research note issued on Monday. They presently have a $3.00 target price on the shipping company’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 89.81% from the company’s previous close.
DAC has been the topic of several other research reports. Zacks Investment Research raised Danaos Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. ValuEngine lowered Danaos Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $2.25.
Shares of Danaos Corporation (DAC) opened at 1.5805 on Monday. The firm has a 50-day moving average of $1.42 and a 200 day moving average of $2.03. Danaos Corporation has a 12 month low of $1.25 and a 12 month high of $4.90. The firm’s market cap is $173.54 million.
Danaos Corporation (NYSE:DAC) last issued its quarterly earnings data on Tuesday, May 30th. The shipping company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.04. The business had revenue of $110.10 million for the quarter, compared to the consensus estimate of $104.37 million. Danaos Corporation had a positive return on equity of 16.77% and a negative net margin of 83.21%. The firm’s revenue was down 19.9% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. On average, equities research analysts anticipate that Danaos Corporation will post $0.86 EPS for the current fiscal year.
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An institutional investor recently raised its position in Danaos Corporation stock. Bank of New York Mellon Corp raised its stake in Danaos Corporation (NYSE:DAC) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,802 shares of the shipping company’s stock after buying an additional 4,383 shares during the period. Bank of New York Mellon Corp owned approximately 0.10% of Danaos Corporation worth $194,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.21% of the company’s stock.
Danaos Corporation Company Profile
Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company.
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