The latest trading session saw Danaos (DAC - Free Report) ending at $71.96, denoting a -0.15% adjustment from its last day's close. This move was narrower than the S&P 500's daily loss of 0.22%. On the other hand, the Dow registered a gain of 0.06%, and the technology-centric Nasdaq decreased by 0.52%.
The shipping company's shares have seen an increase of 1.08% over the last month, surpassing the Transportation sector's loss of 5.07% and the S&P 500's loss of 1.66%.
Analysts and investors alike will be keeping a close eye on the performance of Danaos in its upcoming earnings disclosure.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $31.33 per share and revenue of $1.01 billion, indicating changes of +9.85% and +3.62%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Danaos. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Danaos boasts a Zacks Rank of #2 (Buy).
Digging into valuation, Danaos currently has a Forward P/E ratio of 2.3. Its industry sports an average Forward P/E of 7.78, so one might conclude that Danaos is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
The latest trading session saw Danaos (DAC - Free Report) ending at $71.96, denoting a -0.15% adjustment from its last day's close. This move was narrower than the S&P 500's daily loss of 0.22%. On the other hand, the Dow registered a gain of 0.06%, and the technology-centric Nasdaq decreased by 0.52%.
The shipping company's shares have seen an increase of 1.08% over the last month, surpassing the Transportation sector's loss of 5.07% and the S&P 500's loss of 1.66%.
Analysts and investors alike will be keeping a close eye on the performance of Danaos in its upcoming earnings disclosure.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $31.33 per share and revenue of $1.01 billion, indicating changes of +9.85% and +3.62%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Danaos. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Danaos boasts a Zacks Rank of #2 (Buy).
Digging into valuation, Danaos currently has a Forward P/E ratio of 2.3. Its industry sports an average Forward P/E of 7.78, so one might conclude that Danaos is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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