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Danaos Corporation Slumps: DAC Falls 6.0% in Session
May 28, 2014

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Danaos Corporation (DAC - Free Report) saw a big move last session, as the company’s shares fell by nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for DAC, as the stock is now up 10.4% in the past one-month time frame.

-Although this slump was obviously disappointing, Danaos Corporation has seen 1 positive revision and its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for DAC. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.

DAC currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

Some better-ranked stocks in the same sector include China COSCO Holdings Company Limited (CICOY), Euroseas, Ltd. (ESEA) and Global Ship Lease, Inc. (GSL). All these stocks hold a Zacks Rank #2 (Buy).

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