Pangaea Logistics Solutions (NASDAQ:PANL) released its quarterly earnings results on Friday. The shipping company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01), Fidelity Earnings reports. The business had revenue of $95.35 million for the quarter, compared to analysts’ expectations of $120.45 million. Pangaea Logistics Solutions had a return on equity of 10.42% and a net margin of 5.53%.
Pangaea Logistics Solutions stock traded down $0.01 during midday trading on Friday, reaching $3.42. 37,939 shares of the stock traded hands, compared to its average volume of 15,576. Pangaea Logistics Solutions has a 12-month low of $2.13 and a 12-month high of $8.40. The stock has a market capitalization of $149.38 million, a price-to-earnings ratio of 9.00 and a beta of 0.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.41 and a quick ratio of 1.17.
A number of equities analysts have recently weighed in on PANL shares. Noble Financial reiterated a “buy” rating and set a $5.50 price target on shares of Pangaea Logistics Solutions in a report on Wednesday, August 29th. Zacks Investment Research upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a report on Thursday, August 23rd. Finally, TheStreet upgraded Pangaea Logistics Solutions from a “c” rating to a “b-” rating in a report on Friday, August 31st.
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About Pangaea Logistics Solutions
Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company offers various dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.
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