Danaos (NYSE:DAC) Announces Quarterly Earnings Results, Misses Expectations By $0.36 EPS

Danaos (NYSE:DAC) announced its quarterly earnings results on Tuesday. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.86 by ($0.36), Zacks reports. Danaos had a return on equity of 17.88% and a net margin of 58.15%. The company had revenue of $256.18 million for the quarter, compared to the consensus estimate of $251.16 million. During the same quarter last year, the company posted $7.26 EPS.

Danaos Stock Performance

NYSE:DAC traded up $2.05 during trading on Wednesday, reaching $84.74. The company’s stock had a trading volume of 89,632 shares, compared to its average volume of 105,554. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 2.83 and a beta of 1.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.04 and a current ratio of 4.18. The firm has a 50 day moving average of $82.65 and a 200-day moving average of $85.08. Danaos has a 12 month low of $64.96 and a 12 month high of $98.25.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Jefferies Financial Group restated a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research note on Tuesday. StockNews.com downgraded Danaos from a “buy” rating to a “hold” rating in a research note on Tuesday.

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.