2024-05-28 11:45:37 ET
Summary
- Danaos Corporation has delivered strong returns, outperforming the S&P 500 index over the past year.
- Danaos Corporation's Q1 missed estimates. But there are a few important bullish points that stand out that should make investors think twice before dumping their long positions.
- The company has a diverse fleet of containerships and dry-bulk Capesize vessels, which has helped stabilize its operations.
- Danaos has shown financial strength through deleveraging, a strong balance sheet, and a decrease in net debt.
- For DAC, the current reality speaks more for continued growth than anything else. I decided to update my coverage of DAC stock again with a "Buy" rating.
Danaos Overview
Since May 2021, I have written 12 articles about Danaos Corporation ( DAC ), all of which were rated as either "Strong Buys" or "Buys." Since my first article , DAC stock has delivered a total return of 60.5%, while the S&P 500 Index (SP500) has grown by just over 27%....
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For further details see:
Danaos Q1 Earnings: 4 Reasons Why I Am Maintaining My Buy Rating