B. Riley Has Negative Outlook for PANL FY2024 Earnings

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) – Equities research analysts at B. Riley cut their FY2024 EPS estimates for shares of Pangaea Logistics Solutions in a research report issued to clients and investors on Wednesday, November 13th. B. Riley analyst L. Burke now expects that the shipping company will post earnings of $0.63 per share for the year, down from their previous estimate of $0.76. The consensus estimate for Pangaea Logistics Solutions’ current full-year earnings is $0.76 per share. B. Riley also issued estimates for Pangaea Logistics Solutions’ Q4 2024 earnings at $0.14 EPS and FY2025 earnings at $0.68 EPS.

Separately, StockNews.com lowered shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research report on Friday.

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ PANL opened at $6.30 on Friday. The company has a 50-day simple moving average of $6.58 and a 200-day simple moving average of $7.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.82. The company has a market cap of $295.47 million, a PE ratio of 13.40 and a beta of 0.87. Pangaea Logistics Solutions has a 12 month low of $6.09 and a 12 month high of $9.52.

Institutional Trading of Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in shares of Pangaea Logistics Solutions by 6.7% in the second quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company’s stock worth $188,000 after acquiring an additional 1,514 shares during the last quarter. SG Americas Securities LLC raised its stake in Pangaea Logistics Solutions by 3.0% during the first quarter. SG Americas Securities LLC now owns 58,004 shares of the shipping company’s stock worth $404,000 after purchasing an additional 1,672 shares during the period. Lakewood Asset Management LLC boosted its holdings in shares of Pangaea Logistics Solutions by 8.4% in the 3rd quarter. Lakewood Asset Management LLC now owns 36,337 shares of the shipping company’s stock valued at $263,000 after purchasing an additional 2,830 shares during the last quarter. Algert Global LLC grew its stake in shares of Pangaea Logistics Solutions by 20.1% during the 2nd quarter. Algert Global LLC now owns 18,215 shares of the shipping company’s stock valued at $143,000 after buying an additional 3,044 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Pangaea Logistics Solutions by 7.9% during the 3rd quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock worth $446,000 after buying an additional 4,499 shares during the last quarter. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 6.35%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 85.11%.

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. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.