Pangaea Logistics Solutions (NASDAQ:PANL) Issues Earnings Results

Pangaea Logistics Solutions (NASDAQ:PANL) released its earnings results on Monday. The shipping company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02, Zacks reports. The company had revenue of $187.12 million for the quarter, compared to analyst estimates of $192.76 million. Pangaea Logistics Solutions had a net margin of 6.70% and a return on equity of 9.52%.

Pangaea Logistics Solutions Stock Performance

NASDAQ PANL opened at $6.91 on Wednesday. The firm has a market capitalization of $452.05 million, a P/E ratio of 9.21 and a beta of 0.79. Pangaea Logistics Solutions has a 1-year low of $4.54 and a 1-year high of $9.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.37. The business’s 50-day simple moving average is $7.23 and its 200-day simple moving average is $7.71.

Pangaea Logistics Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.10 dividend. This is a positive change from Pangaea Logistics Solutions’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, September 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.8%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is 36.36%.

Analyst Upgrades and Downgrades

PANL has been the topic of a number of recent analyst reports. Wall Street Zen raised Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Weiss Ratings lowered Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in Pangaea Logistics Solutions by 89.9% in the third quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock valued at $31,000 after acquiring an additional 2,864 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Pangaea Logistics Solutions by 110.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock valued at $43,000 after buying an additional 4,825 shares during the period. Algert Global LLC bought a new position in shares of Pangaea Logistics Solutions during the third quarter valued at approximately $53,000. Kemnay Advisory Services Inc. acquired a new stake in Pangaea Logistics Solutions in the fourth quarter worth $53,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Pangaea Logistics Solutions in the 3rd quarter worth about $63,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

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.