Danaos (DAC) Stock Rating Lowered by Zacks Investment Research

Danaos (NYSE:DAC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Danaos Corporation is a leading international owner of containerships, chartering vessels to many of the world’s largest liner companies. Danaos was set up by Dimitri Coustas, an experienced shipping investor who had been active in the industry. Having consistently developed sea transport services throughout its history, Danaos has forged a reputation for high-quality operational support to liner companies and other charterers throughout the world. The Company currently have a fleet of containerships aggregating TEU, making us among the largest containership charter owners in the world. We charter our containerships to a geographically diverse group of liner companies, including most of the largest ones globally. Such customers include Maersk, COSCO, Hapag-Lloyd, CMA-CGM, Neptune Orient Lines, Yang Ming, China Shipping, Norasia Container Lines Ltd, Hyundai Merchant Marine Co., Wan-Hai Lines and Zim Israel Integrated Shipping Services Ltd. “

Separately, ValuEngine raised Danaos from a “strong sell” rating to a “sell” rating in a report on Thursday, August 2nd.

Shares of Danaos stock opened at $1.11 on Thursday. Danaos has a 1 year low of $1.05 and a 1 year high of $2.50. The firm has a market cap of $131.76 million, a price-to-earnings ratio of 1.06 and a beta of 0.75. The company has a debt-to-equity ratio of 3.75, a current ratio of 0.75 and a quick ratio of 0.70.

Danaos (NYSE:DAC) last announced its quarterly earnings results on Monday, September 24th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Danaos had a return on equity of 21.49% and a net margin of 14.58%. The business had revenue of $113.47 million during the quarter, compared to the consensus estimate of $107.24 million. On average, sell-side analysts forecast that Danaos will post 0.74 EPS for the current fiscal year.

A hedge fund recently raised its stake in Danaos stock. Renaissance Technologies LLC lifted its position in shares of Danaos Co. (NYSE:DAC) by 183.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,864 shares of the shipping company’s stock after buying an additional 59,414 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of Danaos worth $175,000 as of its most recent SEC filing. Institutional investors own 1.86% of the company’s stock.

About Danaos

Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2018, it had a fleet of 55 containerships aggregating 327,616 twenty foot equivalent units.

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