Danaos (NYSE:DAC) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Danaos Corporation (NYSE:DAC)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $123.85 and traded as high as $151.48. Danaos shares last traded at $150.5670, with a volume of 139,825 shares.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DAC shares. Freedom Capital raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. Finally, Fearnley Fonds upgraded shares of Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Danaos currently has a consensus rating of “Strong Buy”.

Danaos Price Performance

The company has a current ratio of 9.30, a quick ratio of 9.15 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $2.70 billion, a P/E ratio of 5.01 and a beta of 0.89. The company has a 50 day moving average price of $134.16 and a 200 day moving average price of $124.22.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Monday, August 3rd. The shipping company reported $7.29 earnings per share for the quarter, topping the consensus estimate of $6.80 by $0.49. The firm had revenue of $274.37 million for the quarter, compared to analysts’ expectations of $258.27 million. Danaos had a return on equity of 13.20% and a net margin of 51.26%.

Danaos Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Tuesday, July 21st were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, July 21st. This represents a $3.60 annualized dividend and a dividend yield of 2.4%. Danaos’s dividend payout ratio (DPR) is currently 12.18%.

Institutional Investors Weigh In On Danaos

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in Danaos during the first quarter worth $223,000. Goldman Sachs Group Inc. boosted its stake in Danaos by 183.6% during the first quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company’s stock worth $3,606,000 after acquiring an additional 29,921 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Danaos by 39.8% in the second quarter. JPMorgan Chase & Co. now owns 82,834 shares of the shipping company’s stock valued at $7,144,000 after purchasing an additional 23,593 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Danaos during the second quarter valued at about $276,000. Finally, Jump Financial LLC bought a new position in shares of Danaos during the 2nd quarter worth about $1,682,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

About Danaos

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.