A Reversal for Danaos Corporation (DAC) Is Not Near. The Stock Reaches 1 Year Low Today

April 17, 2018 - By Marguerite Chambers

Danaos Corporation (NYSE:DAC) Logo

The stock of Danaos Corporation (NYSE:DAC) hit a new 52-week low and has $1.01 target or 6.00 % below today’s $1.08 share price. The 9 months bearish chart indicates high risk for the $118.03 million company. The 1-year low was reported on Apr, 17 by Barchart.com. If the $1.01 price target is reached, the company will be worth $7.08 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock increased 2.38% or $0.025 during the last trading session, reaching $1.075. About 55,468 shares traded or 25.71% up from the average. Danaos Corporation (NYSE:DAC) has declined 28.57% since April 17, 2017 and is downtrending. It has underperformed by 40.12% the S&P500.

Analysts await Danaos Corporation (NYSE:DAC) to report earnings on May, 29. They expect $0.18 EPS, down 18.18 % or $0.04 from last year’s $0.22 per share. DAC’s profit will be $19.76M for 1.49 P/E if the $0.18 EPS becomes a reality. After $0.28 actual EPS reported by Danaos Corporation for the previous quarter, Wall Street now forecasts -35.71 % negative EPS growth.

Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, and Europe. The company has market cap of $118.03 million. The firm offers seaborne transportation services, such as chartering its vessels to liner companies. It has a 1.41 P/E ratio. As of February 28, 2017, it had a fleet of 55 containerships aggregating 329,588 twenty foot equivalent units.

Danaos Corporation (NYSE:DAC) Ratings Chart

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