Danaos Co. (NYSE:DAC) Short Interest Update

Danaos Co. (NYSE:DAC) was the recipient of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 506,000 shares, a growth of 8.5% from the November 15th total of 466,300 shares. Currently, 5.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 117,900 shares, the short-interest ratio is presently 4.3 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of Danaos

A number of hedge funds have recently made changes to their positions in DAC. SG Americas Securities LLC bought a new position in Danaos in the 2nd quarter worth about $111,000. Blue Trust Inc. increased its position in Danaos by 7,620.0% during the second quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company’s stock valued at $107,000 after acquiring an additional 1,143 shares during the last quarter. TrueMark Investments LLC bought a new position in Danaos in the second quarter valued at about $1,734,000. Signaturefd LLC boosted its position in Danaos by 21.4% in the second quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after purchasing an additional 122 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Danaos during the 2nd quarter valued at about $37,000. 19.01% of the stock is owned by institutional investors.

Danaos Trading Down 1.4 %

Shares of Danaos stock traded down $1.06 during trading on Tuesday, reaching $77.07. The company’s stock had a trading volume of 12,018 shares, compared to its average volume of 109,260. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19. Danaos has a 52-week low of $69.33 and a 52-week high of $98.25. The firm’s 50-day moving average is $82.65 and its two-hundred day moving average is $84.80. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 2.70 and a beta of 1.49.

Danaos (NYSE:DAC) last posted its quarterly earnings results on Tuesday, November 12th. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.86 by ($0.36). Danaos had a net margin of 56.16% and a return on equity of 16.68%. The business had revenue of $256.18 million for the quarter, compared to analysts’ expectations of $251.16 million. During the same quarter in the previous year, the company earned $7.26 earnings per share. On average, sell-side analysts anticipate that Danaos will post 27.56 earnings per share for the current year.

Danaos Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $3.40 annualized dividend and a yield of 4.41%. This is a boost from Danaos’s previous quarterly dividend of $0.80. Danaos’s dividend payout ratio is presently 11.76%.

Danaos Company Profile

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.