Pangaea Logistics Solutions (NASDAQ:PANL) announced its earnings results on Monday. The shipping company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.11), Bloomberg Earnings reports. Pangaea Logistics Solutions had a return on equity of 9.66% and a net margin of 4.59%. The company had revenue of $83.29 million for the quarter, compared to analyst estimates of $109.72 million. During the same quarter in the previous year, the company posted $0.13 earnings per share.
PANL opened at $3.32 on Wednesday. The stock has a fifty day moving average price of $3.45. The company has a current ratio of 1.64, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $147.62 million, a price-to-earnings ratio of 6.26 and a beta of 0.26. Pangaea Logistics Solutions has a twelve month low of $2.78 and a twelve month high of $4.35.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th will be issued a $0.035 dividend. The ex-dividend date is Friday, August 23rd. This represents a $0.14 annualized dividend and a yield of 4.22%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 26.42%.
Several brokerages recently weighed in on PANL. Noble Financial set a $6.00 price objective on shares of Pangaea Logistics Solutions and gave the company a “buy” rating in a report on Friday, May 17th. Zacks Investment Research lowered shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. Finally, ValuEngine lowered shares of Pangaea Logistics Solutions from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st.
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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