In the latest trading session, Danaos (DAC - Free Report) closed at $68.67, marking a +0.94% move from the previous day. This change lagged the S&P 500's 0.99% gain on the day. Meanwhile, the Dow gained 0.51%, and the Nasdaq, a tech-heavy index, lost 0.31%.
Heading into today, shares of the shipping company had gained 6.38% over the past month, outpacing the Transportation sector's gain of 5.75% and lagging the S&P 500's gain of 7.91% in that time.
Wall Street will be looking for positivity from Danaos as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for Danaos. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Danaos is currently a Zacks Rank #3 (Hold).
Digging into valuation, Danaos currently has a Forward P/E ratio of 3.18. For comparison, its industry has an average Forward P/E of 3.35, 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 38, which puts it in the top 16% 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.
To follow DAC in the coming trading sessions, be sure to utilize Zacks.com.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
In the latest trading session, Danaos (DAC - Free Report) closed at $68.67, marking a +0.94% move from the previous day. This change lagged the S&P 500's 0.99% gain on the day. Meanwhile, the Dow gained 0.51%, and the Nasdaq, a tech-heavy index, lost 0.31%.
Heading into today, shares of the shipping company had gained 6.38% over the past month, outpacing the Transportation sector's gain of 5.75% and lagging the S&P 500's gain of 7.91% in that time.
Wall Street will be looking for positivity from Danaos as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for Danaos. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Danaos is currently a Zacks Rank #3 (Hold).
Digging into valuation, Danaos currently has a Forward P/E ratio of 3.18. For comparison, its industry has an average Forward P/E of 3.35, 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 38, which puts it in the top 16% 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.
To follow DAC in the coming trading sessions, be sure to utilize Zacks.com.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Get the latest research report on DAC - FREE