Danaos Corporation (NYSE:DAC) has a beta value of 1.86 and has seen 1,031,688 shares traded in the last trading session. The company, currently valued at $1.27 Billion, closed the last trade at $61.62 per share which meant it gained $7.33 on the day or 13.5% during that session. The DAC stock price is -1.85% off its 52-week high price of $62.76 and 94.6% above the 52-week low of $3.33. If we look at the company’s 10-day average daily trading volume, we find that it stood at 477.4 Million shares traded. The 3-month trading volume is 672.61 Million shares.
The consensus among analysts is that Danaos Corporation (DAC) is an Overweight stock at the moment, with a recommendation rating of 1.7. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 1 out of 4 have rated it as a Hold, with 3 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $2.9.
Danaos Corporation (NYSE:DAC) trade information
Sporting 13.5% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, May 03 when the DAC stock price touched $62.76- or saw a rise of 1.82%. Year-to-date, Danaos Corporation shares have moved 187.54%, while the 5-day performance has seen it change 16.57%. Over the past 30 days, the shares of Danaos Corporation (NYSE:DAC) have changed 20.89%. Short interest in the company has seen 1.26 Million shares shorted with days to cover at 0.
Wall Street analysts have a consensus price target for the stock at $60.25, which means that the shares’ value could jump -2.22% from current levels. The projected low price target is $48 while the price target rests at a high of $67. In that case, then, we find that the current price level is +8.73% off the targeted high while a plunge would see the stock lose -22.1% from current levels.
Danaos Corporation (DAC) estimates and forecasts
Figures show that Danaos Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained +624.09% over the past 6 months, with this year growth rate of 97.49%, compared to 2.5% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 116.4% and 96.5% for the next quarter. Revenue growth from the last financial year stood is estimated to be +26.1%.
3 analysts offering their estimates for the company have set an average revenue estimate of $135.04 Million for the current quarter. 3 have an estimated revenue figure of $145.63 Million for the next quarter concluding in June 01, 2021. Year-ago sales stood $103.01 Million and $116.82 Million respectively for this quarter and the next, and analysts expect sales will grow by 31.1% for the current quarter and 24.7% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -15.4% over the past 5 years. Earnings growth for 2021 is a modest -20.3% while over the next 5 years, the company’s earnings are expected to increase by 3%.
Danaos Corporation (NYSE:DAC)’s Major holders
Insiders own 44.83% of the company shares, while shares held by institutions stand at 31.41% with a share float percentage of 56.94%. Investors are also buoyed by the number of investors in a company, with Danaos Corporation having a total of 52 institutions that hold shares in the company. The top two institutional holders are No Street GP LP with over 1.15 Million shares worth more than $24.64 Million. As of December 30, 2020, No Street GP LP held 5.62% of shares outstanding.
The other major institutional holder is RBF Capital, LLC, with the holding of over 1.12 Million shares as of December 30, 2020. The firm’s total holdings are worth over $23.91 Million and represent 5.46% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Hennessy Cornerstone Growth Fund and Fidelity Strategic Advisors Small-Mid Cap Fund. As of March 30, 2021, the former fund manager holds about 0.53% shares in the company for having 108703 shares of worth $5.39 Million while later fund manager owns 71.3 Thousand shares of worth $2.96 Million as of February 27, 2021, which makes it owner of about 0.35% of company’s outstanding stock.