Danaos Co. (NYSE:DAC) Short Interest Update

Danaos Co. (NYSE:DAC) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 466,300 shares, a growth of 8.1% from the October 31st total of 431,500 shares. Based on an average daily volume of 110,500 shares, the days-to-cover ratio is currently 4.2 days. Currently, 4.8% of the shares of the stock are short sold.

Danaos Stock Down 1.4 %

DAC traded down $1.13 on Wednesday, reaching $80.89. 58,222 shares of the company traded hands, compared to its average volume of 108,341. The stock’s 50 day moving average price is $83.78 and its 200-day moving average price is $85.36. Danaos has a 52-week low of $66.45 and a 52-week high of $98.25. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 2.79 and a beta of 1.49. 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 (NYSE:DAC) last announced its quarterly earnings data on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing analysts’ consensus estimates of $6.86 by ($0.36). Danaos had a net margin of 56.16% and a return on equity of 16.68%. The company had revenue of $256.18 million for the quarter, compared to analysts’ expectations of $251.16 million. During the same period in the previous year, the firm posted $7.26 earnings per share. On average, sell-side analysts expect that Danaos will post 27.56 EPS for the current fiscal year.

Danaos Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 25th will be given a dividend of $0.85 per share. The ex-dividend date is Monday, November 25th. This is an increase from Danaos’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 4.20%. Danaos’s payout ratio is presently 11.76%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Danaos

Large investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new stake in Danaos in the third quarter worth approximately $935,000. Corsair Capital Management L.P. acquired a new stake in shares of Danaos in the third quarter worth $607,000. Gordian Capital Singapore Pte Ltd lifted its stake in shares of Danaos by 17,600,000.0% in the second quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock worth $16,255,000 after buying an additional 176,000 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Danaos by 56.9% in the second quarter. Sei Investments Co. now owns 32,242 shares of the shipping company’s stock worth $2,978,000 after buying an additional 11,687 shares during the last quarter. Finally, Inspire Advisors LLC lifted its stake in shares of Danaos by 144.2% in the third quarter. Inspire Advisors LLC now owns 12,429 shares of the shipping company’s stock worth $1,078,000 after buying an additional 7,340 shares during the last quarter. 19.01% of the stock is owned by institutional investors.

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.