Pangaea Logistics Solutions (NASDAQ:PANL) Posts Earnings Results, Beats Estimates By $0.06 EPS

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

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ PANL opened at $7.69 on Tuesday. The stock has a market cap of $502.31 million, a price-to-earnings ratio of 24.81 and a beta of 0.81. Pangaea Logistics Solutions has a 52 week low of $4.21 and a 52 week high of $9.39. The company’s 50-day moving average price is $7.57 and its 200 day moving average price is $7.28. The company has a current ratio of 1.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69.

Pangaea Logistics Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, June 1st. Pangaea Logistics Solutions’s dividend payout ratio is presently 64.52%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PANL shares. B. Riley Financial reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Friday, March 27th. Finally, Wall Street Zen cut shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, April 19th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.00.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of Pangaea Logistics Solutions by 13.0% during the 4th quarter. Royal Bank of Canada now owns 18,123 shares of the shipping company’s stock worth $125,000 after purchasing an additional 2,091 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Pangaea Logistics Solutions by 2.1% during the 4th quarter. First Trust Advisors LP now owns 106,813 shares of the shipping company’s stock worth $735,000 after purchasing an additional 2,159 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Pangaea Logistics Solutions by 7.0% during the 3rd quarter. Alliancebernstein L.P. now owns 35,010 shares of the shipping company’s stock worth $178,000 after purchasing an additional 2,300 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Pangaea Logistics Solutions by 89.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock worth $31,000 after purchasing an additional 2,864 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Pangaea Logistics Solutions by 18.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock worth $102,000 after purchasing an additional 3,344 shares during the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.

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.