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

Pangaea Logistics Solutions (NASDAQ:PANL) issued its earnings results on Monday. The shipping company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06, Zacks reports. Pangaea Logistics Solutions had a net margin of 4.14% and a return on equity of 7.88%. During the same period last year, the company earned $0.14 EPS.

Pangaea Logistics Solutions Trading Up 10.2%

NASDAQ PANL traded up $0.41 during mid-day trading on Monday, reaching $4.42. 361,566 shares of the stock were exchanged, compared to its average volume of 192,730. Pangaea Logistics Solutions has a one year low of $3.93 and a one year high of $8.32. The stock has a 50 day simple moving average of $4.55 and a 200-day simple moving average of $5.21. The stock has a market cap of $290.08 million, a P/E ratio of 9.40 and a beta of 0.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77.

Pangaea Logistics Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 9.05%. The ex-dividend date of this dividend was Friday, February 28th. Pangaea Logistics Solutions’s dividend payout ratio is presently 64.52%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, March 25th.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.