Pangaea Logistics Solutions (NASDAQ:PANL) Announces Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Pangaea Logistics Solutions (NASDAQ:PANL) announced its quarterly earnings data on Thursday. The shipping company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.21, Zacks reports. Pangaea Logistics Solutions had a return on equity of 13.94% and a net margin of 9.68%. The business had revenue of $219.06 million during the quarter, compared to analyst estimates of $204.90 million.

Pangaea Logistics Solutions Stock Performance

PANL stock traded up $0.20 during midday trading on Friday, reaching $7.57. 564,028 shares of the company’s stock traded hands, compared to its average volume of 352,034. The firm has a market capitalization of $495.64 million, a PE ratio of 6.58 and a beta of 0.91. The company has a 50-day moving average price of $8.12 and a two-hundred day moving average price of $7.82. Pangaea Logistics Solutions has a 52 week low of $5.19 and a 52 week high of $9.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.38.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.40 dividend on an annualized basis and a yield of 5.3%. Pangaea Logistics Solutions’s payout ratio is presently 34.78%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Pangaea Logistics Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, September 14th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Pangaea Logistics Solutions News Roundup

Here are the key news stories impacting Pangaea Logistics Solutions this week:

• Positive Sentiment: Q3 adjusted earnings were $0.52 per share, beating the $0.31 consensus and rising from $0.17 a year earlier. Revenue of $219.06 million also exceeded analysts’ $204.90 million estimate. Zacks Q3 results
• Positive Sentiment: Coverage highlighted a 31% increase in rates, which may support earnings if stronger pricing persists. Q3 earnings and rates coverage
• Positive Sentiment: Pangaea declared a quarterly dividend of $0.10 per share, payable December 15 to shareholders of record December 1. That equates to $0.40 annually and a cited yield of 5.3%.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) is a global provider of drybulk shipping and logistics services. The company transports industrial commodities for customers and manages the movement of cargo from origin to destination, combining marine transportation with related supply-chain services.

Pangaea owns and operates a fleet of drybulk vessels, including Handysize, Supramax and Panamax-class ships. Its cargoes include a range of drybulk commodities such as coal, grain, cement, salt, gypsum, dolomite and iron ore.