Pangaea Logistics Solutions (NASDAQ:PANL) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a buy rating in a research report report published on Thursday.

Separately, Alliance Global Partners lowered shares of Pangaea Logistics Solutions from a buy rating to a neutral rating and set a $8.75 target price on the stock. in a report on Monday, February 5th.

Pangaea Logistics Solutions Price Performance

PANL stock opened at $6.70 on Thursday. The firm has a market cap of $313.02 million, a price-to-earnings ratio of 11.36 and a beta of 0.85. The company has a quick ratio of 1.66, a current ratio of 1.82 and a debt-to-equity ratio of 0.57. Pangaea Logistics Solutions has a 12-month low of $5.28 and a 12-month high of $9.52. The company’s fifty day simple moving average is $7.71 and its 200 day simple moving average is $7.38.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its earnings results on Wednesday, March 13th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.28). The firm had revenue of $131.88 million during the quarter, compared to analyst estimates of $152.31 million. Pangaea Logistics Solutions had a net margin of 5.27% and a return on equity of 8.54%. During the same quarter in the previous year, the firm earned $0.32 EPS. On average, analysts expect that Pangaea Logistics Solutions will post 0.87 earnings per share for the current year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.40 annualized dividend and a dividend yield of 5.97%. Pangaea Logistics Solutions’s dividend payout ratio is currently 67.80%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada acquired a new position in shares of Pangaea Logistics Solutions during the second quarter valued at about $26,000. Quarry LP acquired a new position in shares of Pangaea Logistics Solutions during the fourth quarter valued at about $35,000. Bank of America Corp DE raised its holdings in shares of Pangaea Logistics Solutions by 1,977.9% in the 1st quarter. Bank of America Corp DE now owns 4,800 shares of the shipping company’s stock worth $27,000 after acquiring an additional 4,569 shares during the last quarter. UBS Group AG acquired a new stake in shares of Pangaea Logistics Solutions in the 1st quarter worth about $41,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Pangaea Logistics Solutions by 245.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,142 shares of the shipping company’s stock worth $59,000 after acquiring an additional 5,077 shares during the last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

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.