Danaos (DAC) Lowered by Zacks Investment Research Stock Rating

Danaos (NYSE: DAC) was downgraded by Zacks Investment Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors 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 Dmitri Coustas, an experienced seller who has been active in the industry. Danaos has forged a reputation for high-quality operational support for liner companies and other charterers throughout the world. The Company currently has a fleet of containerships aggregating TEU, making it among the largest charterers in the world. We charter our containererships to a geographically diverse group of liner companies, including most of the larger ones globally. Such customers include Maersk, COSCO, Hapag-Lloyd, CMA-CGM, Neptune East 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, Danaos from a "sell" rating to a "strong sell" rating in a research note on Tuesday, September 4th.

NYSE DAC traded down $ 0.05 on Thursday, reaching $ 1.15. The company had a trading volume of 59,800 shares, compared to its average volume of 86,900. The firm has a market cap of $ 131.76 million, a PE ratio of 1.10 and a beta of 0.76. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 3.75. Danaos has a 1-year low of $ 1.05 and a 1-year high of $ 2.50.

Danaos (NYSE: DAC) last announced its earnings on Monday, September 24th. The shipping company reported $ 0.27 per share for the quarter, topping the Zacks' consensus estimate of $ 0.23 by $ 0.04. The firm had revenue of $ 113.47 million during the quarter, compared to badyst estimates of $ 107.24 million. Danaos had a net margin of 14.58% and a return on equity of 21.49%. Equities research badysts that Danaos will post 0.7 EPS for the current year.

An institutional investor recently raised its position in Danaos stock. Renaissance Technologies LLC has expanded its stake in Danaos Co. (NYSE: DAC) by 183.1% in the second quarter, according to the company's most recent filing with the Securities and Exchange Commission. The firm owned 91,864 shares of the shipping company's stock after purchasing an additional 59,414 shares during the period. Renaissance Technologies LLC, Inc., Inc., Ltd., is the most recent filing with the Securities and Exchange Commission. 1.86% of the stock is currently owned by institutional investors.

Danaos Company Profile

Danaos Corporation, together with its subsidiaries, owns and operates 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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