Streetbeat News

DAC

Danaos Corporation

https://www.danaos.com

Industry

Marine Shipping

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, 2022, it had a fleet of 71 containerships aggregating 436,589 twenty-foot equivalent units in capacity. The company was formerly known as Danaos Holdings Limited and changed its name to Danaos Corporation in October 2005. Danaos Corporation was founded in 1963 and is based in Piraeus, Greece.

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Potential labor strikes at U.S. ports and Canadian railways could lead to volatility in container freight rates, impacting the container industry and cargo owners. Stocks of companies in the container leasing and liner sectors showed mixed performance amid these developments.

Portfolio Pulse from Michael Juliano

August 21, 2024 | 11:12 pm

Transatlantic container shipping volumes to the U.S. are increasing as retailers prepare for potential port strikes. This benefits shipping companies like Euroseas, Global Ship Lease, Danaos, and ZIM Integrated Shipping, which recently reported strong earnings.

Portfolio Pulse from Michael Juliano

August 19, 2024 | 9:56 pm

Danaos (NYSE:DAC) reported Q2 2024 earnings per share (EPS) of $6.78, missing the analyst estimate of $7.28 by 6.87%. However, the company beat sales estimates with $246.306 million, a 2.85% increase over the expected $239.479 million.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 8:58 pm

Shares of shipping and tanker stocks are trading lower amid reported hopes of an Israel-Hamas ceasefire, which could ease Red Sea uncertainty and pressure freight rates.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 5:06 pm

Jefferies analyst Omar Nokta maintains a Buy rating on Danaos (NYSE:DAC) and raises the price target from $90 to $105.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 5:33 pm

Danaos Corporation (NYSE:DAC) reported Q1 FY24 results with a 4% increase in operating revenues to $253.4 million, missing the consensus of $256.0 million. Adjusted EBITDA declined to $177.2 million, and adjusted EPS of $7.15 missed the consensus of $7.74. Despite these misses, the company secured multi-year chartering agreements and added $423 million to its contracted revenue backlog. DAC shares are down 1.93% following the report.

Portfolio Pulse from Lekha Gupta

May 28, 2024 | 5:20 pm

Danaos Corporation (NYSE:DAC) reported Q1 2024 earnings per share (EPS) of $7.15, missing the analyst consensus estimate of $7.74 by 7.62%. The company also reported quarterly sales of $253.449 million, which missed the estimate of $256.000 million by 1.00%. Despite the misses, sales increased by 4.05% compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 11:31 am

As of May 28, 2024, five industrial stocks are showing signs of being overbought, which could be a warning for momentum investors. These stocks include FREYR Battery, Redwire Corporation, Bloom Energy, Construction Partners, and Danaos Corporation. Each of these stocks has seen significant recent gains and has an RSI value above 70, indicating potential overbought conditions.

Portfolio Pulse from Avi Kapoor

May 28, 2024 | 11:31 am

Four industrials sector stocks, Danaos Corporation (DAC), Westinghouse Air Brake Technologies Corporation (WAB), JanOne Inc. (JAN), and Tutor Perini Corporation (TPC), are identified as overbought based on their RSI values, indicating potential short-term performance concerns. DAC's recent earnings were disappointing, while WAB, JAN, and TPC reported positive developments. Despite these, their high RSI values suggest they might be at risk of a pullback.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 12:32 pm

Danaos Corporation (NYSE:DAC) announced a quarterly dividend of 80 cents per share, with the ex-dividend date set for Tuesday. Shareholders owning DAC by the end of Monday's session will be eligible for the dividend, payable on March 14, 2024. The stock is expected to open 80 cents lower on the ex-dividend date.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 2:45 pm

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