We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Danaos (DAC) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Danaos (DAC) Gains But Lags Market: What You Should Know
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.