Pangaea Logistics Solutions (NASDAQ:PANL) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a strong-buy rating to a buy rating in a report issued on Sunday.

A number of other brokerages have also recently issued reports on PANL. Weiss Ratings reissued a “hold (c)” rating on shares of Pangaea Logistics Solutions in a report on Friday, March 27th. B. Riley Financial reissued a “buy” rating on shares of Pangaea Logistics Solutions in a report on Wednesday, January 28th. Finally, Zacks Research cut shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.00.

Pangaea Logistics Solutions Stock Performance

NASDAQ:PANL opened at $7.90 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $516.02 million, a PE ratio of 25.48 and a beta of 0.89. The firm’s 50 day moving average is $7.93 and its 200 day moving average is $7.01. Pangaea Logistics Solutions has a 12 month low of $3.94 and a 12 month high of $9.39.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Tuesday, March 10th. The shipping company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $183.88 million during the quarter, compared to the consensus estimate of $181.75 million. Pangaea Logistics Solutions had a return on equity of 3.80% and a net margin of 3.06%. Sell-side analysts expect that Pangaea Logistics Solutions will post 0.43 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.20 dividend on an annualized basis and a yield of 2.5%. Pangaea Logistics Solutions’s payout ratio is presently 64.52%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. LOM Asset Management Ltd purchased a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth $34,000. BNP Paribas Financial Markets raised its position in shares of Pangaea Logistics Solutions by 89.9% in the third quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock worth $31,000 after buying an additional 2,864 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth $53,000. Tower Research Capital LLC TRC raised its position in shares of Pangaea Logistics Solutions by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock worth $43,000 after buying an additional 4,825 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Pangaea Logistics Solutions in the third quarter worth $53,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

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.