Pangaea Logistics Solutions (NASDAQ:PANL) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Pangaea Logistics Solutions (NASDAQ:PANL) issued its quarterly earnings results on Monday. The shipping company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06, FiscalAI reports. Pangaea Logistics Solutions had a net margin of 3.06% and a return on equity of 3.80%. The company had revenue of $170.58 million during the quarter, compared to analysts’ expectations of $165.79 million.

Pangaea Logistics Solutions Trading Down 1.9%

NASDAQ PANL traded down $0.15 during trading on Monday, reaching $7.69. 510,014 shares of the stock traded hands, compared to its average volume of 626,469. The firm has a market cap of $502.30 million, a price-to-earnings ratio of 24.81 and a beta of 0.81. The stock’s 50-day moving average price is $7.62 and its 200 day moving average price is $7.24. The company has a quick ratio of 1.46, a current ratio of 1.69 and a debt-to-equity ratio of 0.69. Pangaea Logistics Solutions has a fifty-two week low of $4.21 and a fifty-two week high of $9.39.

Pangaea Logistics Solutions Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Pangaea Logistics Solutions by 13.0% during the fourth quarter. Royal Bank of Canada now owns 18,123 shares of the shipping company’s stock valued at $125,000 after purchasing an additional 2,091 shares during the period. First Trust Advisors LP lifted its stake in Pangaea Logistics Solutions by 2.1% in the fourth quarter. First Trust Advisors LP now owns 106,813 shares of the shipping company’s stock valued at $735,000 after buying an additional 2,159 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Pangaea Logistics Solutions by 7.0% in the third quarter. Alliancebernstein L.P. now owns 35,010 shares of the shipping company’s stock valued at $178,000 after buying an additional 2,300 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in 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 valued at $31,000 after buying an additional 2,864 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Pangaea Logistics Solutions by 18.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock valued at $102,000 after buying an additional 3,344 shares in the last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

Analysts Set New Price Targets

PANL has been the subject of several analyst reports. B. Riley Financial reiterated a “buy” rating on shares of Pangaea Logistics Solutions in a research report on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Friday, March 27th. Finally, Wall Street Zen cut shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, April 19th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Pangaea Logistics Solutions 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.