The latest trading session saw Danaos (DAC) ending at $76.51, denoting a -0.75% adjustment from its last day’s close. This move was narrower than the S&P 500’s daily loss of 1.57%. Elsewhere, the Dow lost 1.49%, while the tech-heavy Nasdaq lost 2.04%.
Heading into today, shares of the shipping company had gained 6.4% over the past month, outpacing the Transportation sector’s loss of 8.57% and the S&P 500’s loss of 2.5% in that time.
The investment community will be paying close attention to the earnings performance of Danaos in its upcoming release. It is anticipated that the company will report an EPS of $7.71, marking a 7.98% rise compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $31.34 per share and a revenue of $1.01 billion, signifying shifts of +9.89% and +3.62%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Danaos. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we’ve crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Danaos currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Danaos is at present trading with a Forward P/E ratio of 2.46. For comparison, its industry has an average Forward P/E of 7.67, which means Danaos is trading at a discount to the group.
The Transportation – Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 63, putting 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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