Danaos (NYSE:DAC) Hits New 52-Week High – What’s Next?

Shares of Danaos Corporation (NYSE:DAC) reached a new 52-week high during trading on Monday . The stock traded as high as $124.38 and last traded at $123.9050, with a volume of 54998 shares changing hands. The stock had previously closed at $119.77.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DAC shares. Fearnley Fonds upgraded shares of Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Danaos in a research note on Wednesday, January 21st. Finally, Freedom Capital raised shares of Danaos to a “hold” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Danaos presently has an average rating of “Buy” and a consensus target price of $105.00.

Danaos Stock Performance

The company has a quick ratio of 3.23, a current ratio of 3.28 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.25 billion, a PE ratio of 4.62 and a beta of 0.90. The business has a 50 day simple moving average of $114.60 and a 200 day simple moving average of $102.89.

Danaos (NYSE:DAC) last issued its quarterly earnings results on Monday, February 9th. The shipping company reported $7.14 earnings per share for the quarter, topping analysts’ consensus estimates of $6.46 by $0.68. Danaos had a return on equity of 13.31% and a net margin of 47.45%.The business had revenue of $266.27 million for the quarter, compared to analyst estimates of $253.00 million.

Danaos Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, February 23rd. Danaos’s payout ratio is currently 13.44%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DAC. Kestra Advisory Services LLC acquired a new stake in shares of Danaos during the fourth quarter worth $43,000. Ascentis Independent Advisors acquired a new position in shares of Danaos in the 1st quarter valued at $56,000. Raymond James Financial Inc. purchased a new position in Danaos in the 2nd quarter worth $64,000. Tower Research Capital LLC TRC purchased a new position in Danaos in the 2nd quarter worth $67,000. Finally, Farther Finance Advisors LLC lifted its position in Danaos by 165.0% during the 4th quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock worth $73,000 after acquiring an additional 485 shares during the period. Hedge funds and other institutional investors 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.