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Danaos (DAC) Stock Falls Amid Market Uptick: What Investors Need to Know
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Danaos (DAC - Free Report) closed at $73.91 in the latest trading session, marking a -0.57% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.02% for the day. Elsewhere, the Dow saw a downswing of 0.11%, while the tech-heavy Nasdaq appreciated by 0.1%.
Shares of the shipping company have appreciated by 3.28% over the course of the past month, outperforming the Transportation sector's loss of 6.69% and the S&P 500's loss of 3.01%.
Investors will be eagerly watching for the performance of Danaos in its upcoming earnings disclosure.
For the full year, the Zacks Consensus Estimates are projecting earnings of $31.33 per share and revenue of $1.01 billion, which would represent changes of +9.85% and +3.62%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Danaos. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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, there's been no change in the Zacks Consensus EPS estimate. Currently, Danaos is carrying a Zacks Rank of #2 (Buy).
With respect to valuation, Danaos is currently being traded at a Forward P/E ratio of 2.37. This represents a discount compared to its industry's average Forward P/E of 7.67.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Danaos (DAC) Stock Falls Amid Market Uptick: What Investors Need to Know
Danaos (DAC - Free Report) closed at $73.91 in the latest trading session, marking a -0.57% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.02% for the day. Elsewhere, the Dow saw a downswing of 0.11%, while the tech-heavy Nasdaq appreciated by 0.1%.
Shares of the shipping company have appreciated by 3.28% over the course of the past month, outperforming the Transportation sector's loss of 6.69% and the S&P 500's loss of 3.01%.
Investors will be eagerly watching for the performance of Danaos in its upcoming earnings disclosure.
For the full year, the Zacks Consensus Estimates are projecting earnings of $31.33 per share and revenue of $1.01 billion, which would represent changes of +9.85% and +3.62%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Danaos. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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, there's been no change in the Zacks Consensus EPS estimate. Currently, Danaos is carrying a Zacks Rank of #2 (Buy).
With respect to valuation, Danaos is currently being traded at a Forward P/E ratio of 2.37. This represents a discount compared to its industry's average Forward P/E of 7.67.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.