Danaos (DAC) Increases Yet Falls Behind Market: What Investors Need to Know
The most recent trading session ended with Danaos (DAC) standing at $78.96, reflecting a +0.53% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.03%. Elsewhere, the Dow saw an upswing of 0.46%, while the tech-heavy Nasdaq appreciated by 1.19%.
Shares of the shipping company have appreciated by 6.28% over the course of the past month, outperforming the Transportation sector's loss of 4.11% and the S&P 500's loss of 1.57%.
The investment community will be closely monitoring the performance of Danaos in its forthcoming earnings report. In that report, analysts expect Danaos to post earnings of $7.71 per share. This would mark year-over-year growth of 7.98%.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $31.34 per share and a revenue of $1.01 billion, indicating changes of +9.89% and +3.62%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Danaos. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.03% higher. Right now, Danaos possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Danaos is holding a Forward P/E ratio of 2.51. Its industry sports an average Forward P/E of 8.03, so one might conclude that Danaos is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 59, finds itself in the top 24% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Danaos Corporation (DAC) : Free Stock Analysis Report
