Pangaea Logistics Solutions (NASDAQ:PANL) Announces Earnings Results

Pangaea Logistics Solutions (NASDAQ:PANL) issued its quarterly earnings results on Monday. The shipping company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06, FiscalAI reports. The firm had revenue of $170.58 million for the quarter, compared to analyst estimates of $165.79 million. Pangaea Logistics Solutions had a net margin of 3.06% and a return on equity of 3.80%.

Pangaea Logistics Solutions Trading Down 1.9%

Shares of NASDAQ PANL traded down $0.15 during midday trading on Monday, hitting $7.69. 510,014 shares of the company traded hands, compared to its average volume of 626,469. Pangaea Logistics Solutions has a 12-month low of $4.21 and a 12-month high of $9.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.69. The stock has a 50-day moving average price of $7.62 and a 200 day moving average price of $7.24. The firm has a market cap of $502.30 million, a P/E ratio of 24.81 and a beta of 0.81.

Pangaea Logistics Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.05 per share. The ex-dividend date was Friday, February 27th. This represents a $0.20 annualized dividend and a dividend yield of 2.6%. Pangaea Logistics Solutions’s payout ratio is currently 64.52%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in shares of Pangaea Logistics Solutions during the fourth quarter valued at about $197,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Pangaea Logistics Solutions during the fourth quarter valued at about $200,000. Numerai GP LLC purchased a new position in shares of Pangaea Logistics Solutions during the fourth quarter valued at about $751,000. Occudo Quantitative Strategies LP purchased a new position in shares of Pangaea Logistics Solutions during the fourth quarter valued at about $318,000. Finally, Oxford Asset Management LLP purchased a new position in Pangaea Logistics Solutions during the fourth quarter valued at $230,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PANL. Wall Street Zen cut shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, April 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Friday, March 27th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average 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.