Danaos (NYSE:DAC) Lifted to “Hold” at Zacks Investment Research

Danaos (NYSE:DAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, Zacks.com reports.

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 lowered shares of Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd.

NYSE:DAC traded down $0.43 during mid-day trading on Monday, hitting $7.32. 7,800 shares of the stock traded hands, compared to its average volume of 5,799. The firm’s 50-day moving average is $8.65. The company has a market cap of $118.09 million, a P/E ratio of 0.59 and a beta of 1.19. Danaos has a 12-month low of $7.17 and a 12-month high of $23.80. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.54 and a current ratio of 0.58.

Danaos (NYSE:DAC) last issued its quarterly earnings data on Monday, May 13th. The shipping company reported $2.53 EPS for the quarter, beating the consensus estimate of $2.24 by $0.29. The company had revenue of $112.89 million during the quarter, compared to analysts’ expectations of $108.03 million. Danaos had a negative net margin of 3.15% and a positive return on equity of 19.75%. As a group, sell-side analysts predict that Danaos will post 7.98 EPS for the current year.

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, 2019, it had a fleet of 55 containerships aggregating 327,616 twenty foot equivalent units in capacity.

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