DAC Stock Summary and Trading Ideas (Danaos | NYSE:DAC)

Danaos Corp is an international owner of containerships. It provides international seaborne transportation services by operating vessels in the containership sector of the shipping industry. The company's customers include, HMM, MSC, Yang Ming, Hapag Lloyd, ZIM, Maersk, COSCO, OOCL, ONE, PIL, Sealead, Niledutch, Samudera, OSC, and Arkas. Geographically, the company operates in Australia-Asia, Europe, and America, with maximum revenue from the Australia-Asia region. It has two reporting segments Container vessels and Drybulk vessels segment. It generates the majority of its revenue from Container vessels.

Danaos trades on the NYSE stock market under the symbol DAC.

As of April 24, 2024, DAC stock price declined to $73.91 with 16,719 million shares trading.

DAC has a beta of 0.33, meaning it tends to be less sensitive to market movements. DAC has a correlation of 0.03 to the broad based SPY ETF.

DAC has a market cap of $1.44 billion. This is considered a Small Cap stock.

Last quarter Danaos reported $249 million in Revenue and $6.99 earnings per share. This fell short of revenue expectation by $-865,000 and missed earnings estimates by -$.79.

In the last 3 years, DAC stock traded as high as $107.47 and as low as $51.10.

The top ETF exchange traded funds that DAC belongs to (by Net Assets): FNDA, PRFZ, BOAT, EWX, SPEM.

DAC has outperformed the market in the last year with a price return of +35.0% while the SPY ETF gained +24.1%. However, in the short term, DAC had mixed performance relative to the market. It has underperformed in the last 3 months, returning -1.4% vs +4.4% return in SPY. But in the last 2 weeks, DAC shares have fared better than the market returning +0.8% compared to SPY -2.8%.

DAC support price is $73.34 and resistance is $75.32 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that DAC stock will trade within this expected range on the day.