Danaos (NYSE:DAC) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Danaos Corporation (NYSE:DAC) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $125.87 and traded as high as $152.00. Danaos shares last traded at $150.99, with a volume of 102,229 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DAC shares. Freedom Capital upgraded shares of Danaos from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Danaos Price Performance

The company’s 50 day simple moving average is $137.10 and its 200 day simple moving average is $126.21. 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 stock has a market capitalization of $2.80 billion, a PE ratio of 5.21 and a beta of 0.87.

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

Danaos Dividend Announcement

The firm also recently announced 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 yield of 2.3%. Danaos’s dividend payout ratio is 12.18%.

Institutional Trading of Danaos

A number of hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in shares of Danaos by 117.1% during the 1st quarter. Renaissance Technologies LLC now owns 83,800 shares of the shipping company’s stock valued at $9,439,000 after buying an additional 45,200 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Danaos by 206.4% in the 1st quarter. Lazard Asset Management LLC now owns 15,815 shares of the shipping company’s stock worth $1,781,000 after purchasing an additional 10,654 shares during the period. Shikiar Asset Management Inc. lifted its position in Danaos by 123.2% during the first quarter. Shikiar Asset Management Inc. now owns 14,285 shares of the shipping company’s stock valued at $1,609,000 after buying an additional 7,885 shares in the last quarter. Midwest Professional Planners LTD. acquired a new position in shares of Danaos during the 4th quarter valued at $487,000. Finally, Diversified Trust Co purchased a new stake in shares of Danaos in the first quarter worth about $498,000. 19.01% of the stock is owned by institutional investors and hedge funds.

Danaos Company Profile

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.