Pangaea Logistics Solutions Ltd. (PANL) To Go Ex-Dividend on February 27th

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) declared a quarterly dividend on Friday, February 13th. Shareholders of record on Friday, February 27th will be paid a dividend of 0.05 per share by the shipping company on Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, February 27th.

Pangaea Logistics Solutions has increased its dividend by an average of 0.3%per year over the last three years. Pangaea Logistics Solutions has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pangaea Logistics Solutions to earn $0.13 per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of 153.8%.

Pangaea Logistics Solutions Stock Performance

PANL traded down $0.19 during mid-day trading on Wednesday, reaching $9.08. 122,859 shares of the company traded hands, compared to its average volume of 687,136. The company’s fifty day moving average price is $7.72 and its 200-day moving average price is $6.38. The stock has a market capitalization of $589.86 million, a P/E ratio of 30.25 and a beta of 0.79. The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a 52-week low of $3.93 and a 52-week high of $9.39.

Analysts Set New Price Targets

PANL has been the subject of several recent research reports. Wall Street Zen raised Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research report on Monday, December 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a report on Monday, December 29th. B. Riley Financial restated a “buy” rating on shares of Pangaea Logistics Solutions in a report on Wednesday, January 28th. Finally, Zacks Research lowered shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Pangaea Logistics Solutions presently has a consensus rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.