Pangaea Logistics Solutions (NASDAQ:PANL) Announces Earnings Results

Pangaea Logistics Solutions (NASDAQ:PANL) announced its quarterly earnings results on Monday. The shipping company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06, FiscalAI reports. The firm had revenue of $170.58 million for the quarter, compared to analyst estimates of $165.79 million. Pangaea Logistics Solutions had a net margin of 3.06% and a return on equity of 3.80%.

Pangaea Logistics Solutions Stock Performance

NASDAQ PANL traded down $0.15 on Monday, hitting $7.69. 510,014 shares of the stock were exchanged, compared to its average volume of 626,469. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.69 and a quick ratio of 1.46. The business’s fifty day moving average is $7.62 and its 200 day moving average is $7.24. Pangaea Logistics Solutions has a 52 week low of $4.21 and a 52 week high of $9.39. The company has a market capitalization of $502.30 million, a PE ratio of 24.81 and a beta of 0.81.

Pangaea Logistics Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, February 27th. Pangaea Logistics Solutions’s dividend payout ratio is 64.52%.

Institutional Trading of Pangaea Logistics Solutions

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

Analysts Set New Price Targets

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