Pangaea Logistics Solutions (NASDAQ:PANL) Issues Quarterly Earnings Results

Pangaea Logistics Solutions (NASDAQ:PANL) posted its quarterly earnings data on Tuesday. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02), FiscalAI reports. The firm had revenue of $183.88 million during the quarter, compared to analysts’ expectations of $181.75 million. Pangaea Logistics Solutions had a return on equity of 3.26% and a net margin of 2.67%.

Pangaea Logistics Solutions Trading Down 11.2%

PANL traded down $0.94 during trading on Wednesday, hitting $7.41. 543,758 shares of the stock traded hands, compared to its average volume of 673,926. The firm has a market capitalization of $481.72 million, a P/E ratio of 24.77 and a beta of 0.77. Pangaea Logistics Solutions has a 12-month low of $3.93 and a 12-month high of $9.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.62 and a quick ratio of 1.35. The firm has a 50-day moving average of $8.10 and a 200 day moving average of $6.65.

Pangaea Logistics Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.20 annualized dividend and a yield of 2.7%. Pangaea Logistics Solutions’s dividend payout ratio is presently 64.52%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Pangaea Logistics Solutions by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,533,085 shares of the shipping company’s stock worth $17,428,000 after purchasing an additional 100,331 shares during the last quarter. Cable Car Capital LP raised its position in Pangaea Logistics Solutions by 2.1% during the 2nd quarter. Cable Car Capital LP now owns 985,623 shares of the shipping company’s stock valued at $4,632,000 after purchasing an additional 20,000 shares during the last quarter. Bridgeway Capital Management LLC raised its position in Pangaea Logistics Solutions by 4.3% during the 2nd quarter. Bridgeway Capital Management LLC now owns 707,479 shares of the shipping company’s stock valued at $3,325,000 after purchasing an additional 29,260 shares during the last quarter. Millennium Management LLC lifted its holdings in Pangaea Logistics Solutions by 1,846.9% in the 4th quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock worth $3,020,000 after buying an additional 416,439 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Pangaea Logistics Solutions by 7.3% in the 1st quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company’s stock worth $1,818,000 after buying an additional 25,851 shares during the last quarter. 60.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. B. Riley Financial restated a “buy” rating on shares of Pangaea Logistics Solutions in a research report on Wednesday, January 28th. Zacks Research lowered shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Monday, December 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.00.

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.