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Danaos (DAC) Gains As Market Dips: What You Should Know
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In the latest trading session, Danaos (DAC - Free Report) closed at $70.40, marking a +0.49% move from the previous day. This move outpaced the S&P 500's daily loss of 0.14%. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.01%.
Heading into today, shares of the shipping company had lost 2.48% over the past month, lagging the Transportation sector's gain of 1.8% and the S&P 500's loss of 0.13% in that time.
Investors will be hoping for strength from Danaos as it approaches its next earnings release. On that day, Danaos is projected to report earnings of $4.75 per share, which would represent year-over-year growth of 107.42%. Our most recent consensus estimate is calling for quarterly revenue of $188.87 million, up 57.86% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Danaos. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Danaos is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Danaos's current valuation metrics, including its Forward P/E ratio of 3.26. This represents a discount compared to its industry's average Forward P/E of 3.96.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Danaos (DAC) Gains As Market Dips: What You Should Know
In the latest trading session, Danaos (DAC - Free Report) closed at $70.40, marking a +0.49% move from the previous day. This move outpaced the S&P 500's daily loss of 0.14%. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.01%.
Heading into today, shares of the shipping company had lost 2.48% over the past month, lagging the Transportation sector's gain of 1.8% and the S&P 500's loss of 0.13% in that time.
Investors will be hoping for strength from Danaos as it approaches its next earnings release. On that day, Danaos is projected to report earnings of $4.75 per share, which would represent year-over-year growth of 107.42%. Our most recent consensus estimate is calling for quarterly revenue of $188.87 million, up 57.86% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Danaos. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Danaos is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Danaos's current valuation metrics, including its Forward P/E ratio of 3.26. This represents a discount compared to its industry's average Forward P/E of 3.96.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.