Pangaea Logistics Solutions (NASDAQ:PANL) Issues Quarterly Earnings Results

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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%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Pangaea Logistics Solutions by 132.5% in the second quarter. BlackRock Inc. now owns 56,094 shares of the shipping company’s stock worth $188,000 after purchasing an additional 31,969 shares during the period. WealthTrust Axiom LLC raised its holdings in Pangaea Logistics Solutions by 57.1% in the second quarter. WealthTrust Axiom LLC now owns 22,000 shares of the shipping company’s stock worth $73,000 after purchasing an additional 8,000 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Pangaea Logistics Solutions by 37.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 111,547 shares of the shipping company’s stock worth $338,000 after purchasing an additional 30,352 shares during the period. Institutional investors own 26.11% of the company’s stock.

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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Earnings History for Pangaea Logistics Solutions (NASDAQ:PANL)

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