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Danaos (DAC) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2-min read

In the latest trading session, Danaos (DAC) closed at $63.10, marking a -1.39% move from the previous day. This change lagged the S&P 500's daily loss of 0.07%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 0.02%.

Prior to today's trading, shares of the shipping company had lost 21.23% over the past month. This has lagged the Transportation sector's loss of 6.52% and the S&P 500's loss of 7.99% in that time.

Danaos will be looking to display strength as it nears its next earnings release.

Any recent changes to analyst estimates for Danaos should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate has moved 34.09% lower within the past month. Danaos is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, Danaos currently has a Forward P/E ratio of 2.99. This represents a discount compared to its industry's average Forward P/E of 3.4.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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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Zacks Investment Research