Danaos (NYSE:DAC) Sets New 1-Year Low at $52.13

Posted by Casey Walker on Dec 6th, 2022

Danaos Co. (NYSE:DAC – Get Rating) reached a new 52-week low during trading on Tuesday . The stock traded as low as $52.13 and last traded at $52.39, with a volume of 2144 shares changing hands. The stock had previously closed at $53.71.

Analyst Ratings Changes

DAC has been the subject of several recent research reports. Citigroup decreased their price objective on Danaos from $85.00 to $65.00 in a report on Wednesday, November 9th. StockNews.com raised shares of Danaos from a “hold” rating to a “buy” rating in a research report on Thursday, November 24th.

Danaos Price Performance

The company has a fifty day moving average of $57.30 and a 200-day moving average of $65.07. The firm has a market cap of $1.08 billion, a P/E ratio of 1.94 and a beta of 1.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.32 and a quick ratio of 2.26.

Danaos Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Friday, November 18th were issued a dividend of $0.75 per share. The ex-dividend date was Thursday, November 17th. This represents a $3.00 annualized dividend and a yield of 5.74%. Danaos’s dividend payout ratio (DPR) is currently 10.81%.

Institutional Investors Weigh In On Danaos

A number of institutional investors have recently added to or reduced their stakes in DAC. Edmond DE Rothschild Holding S.A. bought a new position in Danaos in the 1st quarter valued at $27,000. Atlas Capital Advisors LLC bought a new position in Danaos in the 3rd quarter valued at $30,000. Quadrant Capital Group LLC grew its stake in Danaos by 197.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 722 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 479 shares during the period. Credit Suisse AG bought a new position in Danaos in the 2nd quarter valued at $45,000. Finally, Centaurus Financial Inc. bought a new position in shares of Danaos during the 1st quarter valued at approximately $125,000. 65.03% of the stock is owned by institutional investors.

Danaos Company Profile

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Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2022, it had a fleet of 71 containerships aggregating 436,589 twenty-foot equivalent units in capacity.