Today’s Price Action: Could Danaos Corporation Crash Even More? The Stock Just Made All-Time Low

Today's Price Action: Could Danaos Corporation Crash Even More? The Stock Just Made All Time Low

The stock of Danaos Corporation (NYSE:DAC) reached all time low today, Oct, 17 and still has $2.09 target or 14.00% below today’s $2.43 share price. This indicates more downside for the $271.33M company. This technical setup was reported by Barchart.com. If the $2.09 PT is reached, the company will be worth $37.99 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 50,468 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 $42.43M for 1.60 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: Prnewswire.com which released: “Danaos Corporation Receives Notice that Counterparty has Entered into Court …” on September 01, 2016, also Quotes.Wsj.com with their article: “News Danaos Corp.DAC” published on February 11, 2011, Zacks.com 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: Seekingalpha.com and their article: “Danaos Corporation’s (DAC) CEO John Coustas on Q1 2016 Results – Earnings Call …” published on May 05, 2016 as well as Marketwired.com‘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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