Price Action to Note: Could Danaos Corporation Go Up After Reaching Yearly Low?

Price Action to Note: Could Danaos Corporation Go Up After Reaching Yearly Low?

The stock of Danaos Corporation (NYSE:DAC) hit a new 52-week low and has $2.07 target or 12.00% below today’s $2.35 share price. The 6 months bearish chart indicates high risk for the $262.40 million company. The 1-year low was reported on Oct, 17 by If the $2.07 price target is reached, the company will be worth $31.49 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 36,786 shares traded hands. Danaos Corporation (NYSE:DAC) has declined 43.20% since March 14, 2016 and is downtrending. It has underperformed by 48.81% the S&P500.

Analysts await Danaos Corporation (NYSE:DAC) to report earnings on November, 1. They expect $0.38 EPS, down 5.00% or $0.02 from last year’s $0.4 per share. DAC’s profit will be $42.43 million for 1.55 P/E if the $0.38 EPS becomes a reality. After $0.43 actual EPS reported by Danaos Corporation for the previous quarter, Wall Street now forecasts -11.63% negative EPS growth.

According to Zacks Investment Research, “Danaos Corporation is a leading international owner of containerships, chartering vessels to many of the world’s largest liner companies. Danaos was set up by Dimitri Coustas, an experienced shipping investor who had been active in the industry. Having consistently developed sea transport services throughout its history, Danaos has forged a reputation for high-quality operational support to liner companies and other charterers throughout the world. The Company currently have a fleet of containerships aggregating TEU, making us among the largest containership charter owners in the world. We charter our containerships to a geographically diverse group of liner companies, including most of the largest ones globally. Such customers include Maersk, COSCO, Hapag-Lloyd, CMA-CGM, Neptune Orient Lines, Yang Ming, China Shipping, Norasia Container Lines Ltd, Hyundai Merchant Marine Co., Wan-Hai Lines and Zim Israel Integrated Shipping Services Ltd.”

More notable recent Danaos Corporation (NYSE:DAC) news were published by: which released: “Danaos Corporation Receives Notice that Counterparty has Entered into Court …” on September 01, 2016, also with their article: “News Danaos Corp.DAC” published on February 11, 2011, published: “3 Reasons Why Danaos Corporation (DAC) is a Great Value Stock” on July 08, 2016. More interesting news about Danaos Corporation (NYSE:DAC) were released by: and their article: “Danaos Corporation’s (DAC) CEO John Coustas on Q1 2016 Results – Earnings Call …” published on May 05, 2016 as well as‘s news article titled: “Danaos Corporation Announces Availability of Its Annual Report on Form 20-F …” with publication date: March 18, 2016.

DAC Company Profile

Danaos Corporation, incorporated on October 7, 2005, is a holding firm and an international owner of containerships, chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. It conducts its activities through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company. The Company’s manager is Danaos Shipping Company Limited (Danaos Shipping).

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