Danaos (NYSE:DAC) Releases Quarterly Earnings Results, Misses Expectations By $0.26 EPS

Danaos (NYSE:DAC) issued its quarterly earnings results on Monday. The shipping company reported $6.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.04 by ($0.26), Yahoo Finance reports. Danaos had a return on equity of 18.99% and a net margin of 59.04%. The company had revenue of $246.31 million for the quarter, compared to analysts’ expectations of $238.83 million. During the same quarter in the previous year, the business earned $7.14 EPS.

Danaos Stock Down 0.9 %

Shares of NYSE:DAC opened at $80.63 on Wednesday. The firm has a fifty day moving average price of $89.81 and a two-hundred day moving average price of $80.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.89 and a quick ratio of 3.75. Danaos has a one year low of $62.37 and a one year high of $98.25. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 2.74 and a beta of 1.51.

Danaos Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Tuesday, August 20th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $3.20 dividend on an annualized basis and a yield of 3.97%. Danaos’s dividend payout ratio is 10.86%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised their price target on shares of Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th.

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.