Danaos (DAC) Stock Moves -1.29%: What You Should Know
Danaos (DAC) closed at $76.73 in the latest trading session, marking a -1.29% move from the prior day. This change was narrower than the S&P 500's 2.82% loss on the day. Meanwhile, the Dow lost 2.38%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Prior to today's trading, shares of the shipping company had lost 26.22% over the past month. This has lagged the Transportation sector's loss of 8.98% and the S&P 500's loss of 5.33% in that time.
Danaos will be looking to display strength as it nears its next earnings release. On that day, Danaos is projected to report earnings of $9.48 per share, which would represent year-over-year growth of 234.98%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $212.86 million, up 61.11% from the year-ago period.
DAC's full-year Zacks Consensus Estimates are calling for earnings of $30.17 per share and revenue of $911.98 million. These results would represent year-over-year changes of +71.42% and +32.27%, respectively.
Any recent changes to analyst estimates for Danaos should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Danaos is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Danaos is holding a Forward P/E ratio of 2.58. For comparison, its industry has an average Forward P/E of 3.79, which means Danaos is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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