Danaos (NYSE:DAC) Posts Earnings Results, Misses Estimates By $0.02 EPS

Danaos (NYSE:DAC) released its quarterly earnings results on Monday. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.02), Zacks reports. Danaos had a return on equity of 16.68% and a net margin of 56.16%.

Danaos Trading Up 3.9 %

Shares of Danaos stock opened at $84.13 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78. Danaos has a 1 year low of $69.33 and a 1 year high of $98.25. The company has a market capitalization of $1.63 billion, a P/E ratio of 2.91 and a beta of 1.42. The business has a 50 day moving average price of $79.22 and a 200 day moving average price of $81.47.

Danaos Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $0.85 per share. The ex-dividend date is Monday, February 24th. This represents a $3.40 annualized dividend and a dividend yield of 4.04%. Danaos’s dividend payout ratio is currently 11.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DAC. StockNews.com lowered Danaos from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Jefferies Financial Group reissued a “buy” rating and set a $105.00 price target on shares of Danaos in a research note 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.