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

Pangaea Logistics Solutions (NASDAQ:PANL) announced its quarterly earnings data on Monday. The shipping company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06, FiscalAI reports. Pangaea Logistics Solutions had a return on equity of 5.77% and a net margin of 5.10%.The business had revenue of $170.58 million during the quarter, compared to the consensus estimate of $165.79 million.

Pangaea Logistics Solutions Stock Down 5.9%

PANL traded down $0.51 on Wednesday, reaching $8.13. The company’s stock had a trading volume of 539,635 shares, compared to its average volume of 635,585. The stock has a 50 day moving average of $7.55 and a two-hundred day moving average of $7.30. The company has a quick ratio of 1.46, a current ratio of 1.69 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $530.86 million, a price-to-earnings ratio of 14.77 and a beta of 0.81. Pangaea Logistics Solutions has a fifty-two week low of $4.22 and a fifty-two week high of $9.39.

Pangaea Logistics Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, June 1st. Pangaea Logistics Solutions’s dividend payout ratio is 64.52%.

Analyst Ratings Changes

A number of brokerages have recently commented on PANL. B. Riley Financial reissued a “buy” rating on shares of Pangaea Logistics Solutions in a research report on Wednesday, January 28th. Wall Street Zen downgraded Pangaea Logistics Solutions from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pangaea Logistics Solutions in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.00.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several large investors have recently modified their holdings of PANL. AQR Capital Management LLC acquired a new stake in shares of Pangaea Logistics Solutions in the first quarter valued at approximately $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Pangaea Logistics Solutions by 18.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock valued at $102,000 after acquiring an additional 3,344 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Pangaea Logistics Solutions by 6.6% in the first quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock valued at $1,112,000 after acquiring an additional 14,357 shares during the period. Empowered Funds LLC boosted its holdings in shares of Pangaea Logistics Solutions by 7.3% in the first quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company’s stock valued at $1,818,000 after acquiring an additional 25,851 shares during the period. Finally, Creative Planning boosted its holdings in shares of Pangaea Logistics Solutions by 94.2% in the second quarter. Creative Planning now owns 23,094 shares of the shipping company’s stock valued at $109,000 after acquiring an additional 11,204 shares during the period. 60.23% of the stock is owned by institutional investors and hedge funds.

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.