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

Pangaea Logistics Solutions (NASDAQ:PANL) released its quarterly earnings data on Thursday. The shipping company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.21, Zacks reports. The company had revenue of $219.06 million during the quarter, compared to analysts’ expectations of $204.90 million. Pangaea Logistics Solutions had a net margin of 6.70% and a return on equity of 9.42%.

Pangaea Logistics Solutions Stock Up 2.7%

Shares of Pangaea Logistics Solutions stock traded up $0.20 during trading on Friday, hitting $7.57. 564,028 shares of the stock traded hands, compared to its average volume of 347,612. The firm has a market cap of $495.61 million, a P/E ratio of 6.58 and a beta of 0.91. The company has a current ratio of 1.38, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55. Pangaea Logistics Solutions has a 52-week low of $5.19 and a 52-week high of $9.39. The stock’s fifty day simple moving average is $8.12 and its 200 day simple moving average is $7.82.

Pangaea Logistics Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, December 1st. This represents a $0.40 annualized dividend and a dividend yield of 5.3%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 53.33%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Pangaea Logistics Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, September 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Key Pangaea Logistics Solutions News

Here are the key news stories impacting Pangaea Logistics Solutions this week:

• Positive Sentiment: Q3 adjusted earnings were $0.52 per share, beating the $0.31 consensus and rising from $0.17 a year earlier. Revenue of $219.06 million also exceeded analysts’ $204.90 million estimate. Zacks Q3 results
• Positive Sentiment: Coverage highlighted a 31% increase in rates, which may support earnings if stronger pricing persists. Q3 earnings and rates coverage
• Positive Sentiment: Pangaea declared a quarterly dividend of $0.10 per share, payable December 15 to shareholders of record December 1. That equates to $0.40 annually and a cited yield of 5.3%.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) is a global provider of drybulk shipping and logistics services. The company transports industrial commodities for customers and manages the movement of cargo from origin to destination, combining marine transportation with related supply-chain services.

Pangaea owns and operates a fleet of drybulk vessels, including Handysize, Supramax and Panamax-class ships. Its cargoes include a range of drybulk commodities such as coal, grain, cement, salt, gypsum, dolomite and iron ore.