In the latest trading session, Danaos (DAC - Free Report) closed at $60.48, marking a +0.18% move from the previous day. This move outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, lost 0.04%.
Coming into today, shares of the shipping company had lost 15.63% in the past month. In that same time, the Transportation sector lost 8.64%, while the S&P 500 lost 6.03%.
Investors will be hoping for strength from Danaos as it approaches its next earnings release.
Investors should also note any recent changes to analyst estimates for Danaos. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 34.09% lower. Danaos is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Danaos has a Forward P/E ratio of 2.82 right now. Its industry sports an average Forward P/E of 2.98, so we one might conclude that Danaos is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 26, putting it in the top 11% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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In the latest trading session, Danaos (DAC - Free Report) closed at $60.48, marking a +0.18% move from the previous day. This move outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, lost 0.04%.
Coming into today, shares of the shipping company had lost 15.63% in the past month. In that same time, the Transportation sector lost 8.64%, while the S&P 500 lost 6.03%.
Investors will be hoping for strength from Danaos as it approaches its next earnings release.
Investors should also note any recent changes to analyst estimates for Danaos. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 34.09% lower. Danaos is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Danaos has a Forward P/E ratio of 2.82 right now. Its industry sports an average Forward P/E of 2.98, so we one might conclude that Danaos is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 26, putting it in the top 11% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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