Danaos Corporation (NYSE:DAC) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Danaos Corporation (NYSE:DAC) announced its quarterly earnings data on Monday, July 31st. The shipping company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.05, Briefing.com reports. The company had revenue of $113.88 million for the quarter, compared to analysts’ expectations of $108.01 million. Danaos Corporation had a positive return on equity of 16.72% and a negative net margin of 92.96%. Danaos Corporation’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period last year, the firm posted $0.43 EPS.

Danaos Corporation (NYSE DAC) remained flat at $1.40 during trading on Friday. The company had a trading volume of 88,219 shares. The firm’s 50 day moving average price is $1.86 and its 200 day moving average price is $1.83. Danaos Corporation has a 1-year low of $1.25 and a 1-year high of $4.40. The firm’s market capitalization is $153.72 million.

A number of equities analysts recently weighed in on the company. Jefferies Group LLC reissued a “hold” rating and set a $3.00 price objective on shares of Danaos Corporation in a report on Wednesday. Zacks Investment Research lowered Danaos Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded Danaos Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. Finally, ValuEngine lowered Danaos Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Five research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $2.25.

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About Danaos Corporation

Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company.

Earnings History for Danaos Corporation (NYSE:DAC)

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