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Danaos (DAC) closed at $67.65 in the latest trading session, marking a +0.55% move from the prior day. This move outpaced the S&P 500's daily loss of 0.18%.
Heading into today, shares of the shipping company had gained 19.04% over the past month, outpacing the Transportation sector's loss of 1.96% and the S&P 500's gain of 0.04% in that time.
Investors will be hoping for strength from DAC as it approaches its next earnings release. In that report, analysts expect DAC to post earnings of $3.39 per share. This would mark year-over-year growth of 98.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $146.3 million, up 25.24% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.84 per share and revenue of $586.12 million, which would represent changes of +92.76% and +26.98%, respectively, from the prior year.
Any recent changes to analyst estimates for DAC should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.4% lower. DAC currently has a Zacks Rank of #3 (Hold).
Investors should also note DAC's current valuation metrics, including its Forward P/E ratio of 4.86. This represents a discount compared to its industry's average Forward P/E of 6.26.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% 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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