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Danaos (DAC) Suffers a Larger Drop Than the General Market: Key Insights
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The latest trading session saw Danaos (DAC - Free Report) ending at $72.26, denoting a -1.82% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 1.46%. Elsewhere, the Dow saw a downswing of 1.24%, while the tech-heavy Nasdaq depreciated by 1.63%.
Shares of the shipping company have appreciated by 5.08% over the course of the past month, underperforming the Transportation sector's gain of 6.82% and outperforming the S&P 500's gain of 1.6%.
Market participants will be closely following the financial results of Danaos in its upcoming release.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for Danaos. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Danaos presently features a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Danaos is presently trading at a Forward P/E ratio of 2.35. This represents a discount compared to its industry's average Forward P/E of 7.76.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 41, positioning it in the top 17% of all 250+ industries.
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.
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Danaos (DAC) Suffers a Larger Drop Than the General Market: Key Insights
The latest trading session saw Danaos (DAC - Free Report) ending at $72.26, denoting a -1.82% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 1.46%. Elsewhere, the Dow saw a downswing of 1.24%, while the tech-heavy Nasdaq depreciated by 1.63%.
Shares of the shipping company have appreciated by 5.08% over the course of the past month, underperforming the Transportation sector's gain of 6.82% and outperforming the S&P 500's gain of 1.6%.
Market participants will be closely following the financial results of Danaos in its upcoming release.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for Danaos. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Danaos presently features a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Danaos is presently trading at a Forward P/E ratio of 2.35. This represents a discount compared to its industry's average Forward P/E of 7.76.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 41, positioning it in the top 17% of all 250+ industries.
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.