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

Danaos (NYSE:DAC) posted 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. The firm had revenue of $256.18 million for the quarter, compared to analyst estimates of $251.16 million. Danaos had a net margin of 56.16% and a return on equity of 17.00%. During the same period in the prior year, the company posted $7.26 earnings per share.

Danaos Price Performance

DAC stock traded up $2.84 during trading on Wednesday, hitting $85.53. The company had a trading volume of 108,579 shares, compared to its average volume of 105,659. The company has a market cap of $1.66 billion, a P/E ratio of 2.94 and a beta of 1.47. Danaos has a fifty-two week low of $64.96 and a fifty-two week high of $98.25. The company has a current ratio of 4.18, a quick ratio of 4.04 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average price of $82.65 and a two-hundred day moving average price of $85.08.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. StockNews.com downgraded Danaos from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $105.00 price target on shares of Danaos in a research report 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.