Pangaea Logistics Solutions (PANL) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Pangaea Logistics Solutions (NASDAQ:PANL) posted its quarterly earnings data on Friday. The shipping company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.01), Fidelity Earnings reports. The firm had revenue of $95.35 million during the quarter, compared to analyst estimates of $120.45 million. Pangaea Logistics Solutions had a net margin of 5.53% and a return on equity of 10.42%.
NASDAQ:PANL traded down $0.01 during trading hours on Friday, hitting $3.42. The company had a trading volume of 37,939 shares, compared to its average volume of 15,576. The company has a quick ratio of 1.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.64. The stock has a market cap of $149.38 million, a P/E ratio of 9.00 and a beta of 0.31. Pangaea Logistics Solutions has a 1 year low of $2.13 and a 1 year high of $8.40.
An institutional investor recently raised its position in Pangaea Logistics Solutions stock. Dimensional Fund Advisors LP raised its stake in Pangaea Logistics Solutions Ltd (NASDAQ:PANL) by 121.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,825 shares of the shipping company’s stock after buying an additional 24,000 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.10% of Pangaea Logistics Solutions worth $132,000 at the end of the most recent quarter. 27.29% of the stock is currently owned by institutional investors.
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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. 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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