Danaos Co. (DAC) To Go Ex-Dividend on November 25th

Danaos Co. (NYSE:DAC) declared a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Stockholders of record on Monday, November 25th will be paid a dividend of 0.85 per share by the shipping company on Wednesday, December 4th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Monday, November 25th. This is a positive change from Danaos’s previous quarterly dividend of $0.80.

Danaos has a dividend payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Danaos to earn $27.18 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 11.8%.

Danaos Stock Performance

DAC stock opened at $86.13 on Thursday. Danaos has a one year low of $64.96 and a one year high of $98.25. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 2.98 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 simple moving average of $82.71 and a two-hundred day simple moving average of $85.13.

Danaos (NYSE:DAC) last posted its earnings results on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing analysts’ consensus estimates of $6.86 by ($0.36). The firm had revenue of $256.18 million for the quarter, compared to analysts’ expectations 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 previous year, the company earned $7.26 EPS. On average, equities analysts forecast that Danaos will post 28.01 EPS for the current fiscal year.

Analysts Set New Price Targets

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