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Danaos (DAC) closed the most recent trading day at $67.43, moving -1.43% from the previous trading session. This change lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.22%.
Prior to today's trading, shares of the shipping company had lost 17.4% over the past month. This has lagged the Transportation sector's loss of 10.59% and the S&P 500's loss of 10.02% in that time.
Investors will be hoping for strength from Danaos as it approaches its next earnings release. On that day, Danaos is projected to report earnings of $6.89 per share, which would represent year-over-year growth of 106.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $220.85 million, up 50.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $26.96 per share and revenue of $915.16 million, which would represent changes of +53.18% and +32.73%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Danaos. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 17.05% lower within the past month. Danaos is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Danaos is currently trading at a Forward P/E ratio of 2.5. This represents a discount compared to its industry's average Forward P/E of 3.54.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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