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Danaos (DAC) Stock Sinks As Market Gains: What You Should Know
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Danaos (DAC - Free Report) closed the most recent trading day at $71.15, moving -0.32% from the previous trading session. This move lagged the S&P 500's daily gain of 1.46%. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the shipping company had lost 9.54% over the past month. This has lagged the Transportation sector's loss of 6.24% and the S&P 500's loss of 6.94% in that time.
Danaos will be looking to display strength as it nears its next earnings release. In that report, analysts expect Danaos to post earnings of $6.89 per share. This would mark year-over-year growth of 106.29%. Meanwhile, our latest consensus estimate is calling for revenue of $220.85 million, up 50.82% from the prior-year quarter.
DAC's full-year Zacks Consensus Estimates are calling for earnings of $32.50 per share and revenue of $915.16 million. These results would represent year-over-year changes of +84.66% and +32.73%, respectively.
It is also important to note the recent changes to analyst estimates for Danaos. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 7.72% higher. Danaos is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Danaos is holding a Forward P/E ratio of 2.2. This valuation marks a discount compared to its industry's average Forward P/E of 3.76.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DAC in the coming trading sessions, be sure to utilize Zacks.com.
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Danaos (DAC) Stock Sinks As Market Gains: What You Should Know
Danaos (DAC - Free Report) closed the most recent trading day at $71.15, moving -0.32% from the previous trading session. This move lagged the S&P 500's daily gain of 1.46%. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the shipping company had lost 9.54% over the past month. This has lagged the Transportation sector's loss of 6.24% and the S&P 500's loss of 6.94% in that time.
Danaos will be looking to display strength as it nears its next earnings release. In that report, analysts expect Danaos to post earnings of $6.89 per share. This would mark year-over-year growth of 106.29%. Meanwhile, our latest consensus estimate is calling for revenue of $220.85 million, up 50.82% from the prior-year quarter.
DAC's full-year Zacks Consensus Estimates are calling for earnings of $32.50 per share and revenue of $915.16 million. These results would represent year-over-year changes of +84.66% and +32.73%, respectively.
It is also important to note the recent changes to analyst estimates for Danaos. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 7.72% higher. Danaos is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Danaos is holding a Forward P/E ratio of 2.2. This valuation marks a discount compared to its industry's average Forward P/E of 3.76.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DAC in the coming trading sessions, be sure to utilize Zacks.com.