Patria Investments (NYSE:PAX) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Patria Investments (NYSE:PAX) posted its quarterly earnings results on Tuesday. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01), Zacks reports. Patria Investments had a net margin of 26.01% and a return on equity of 34.20%. The company had revenue of $78.10 million for the quarter, compared to analysts’ expectations of $76.55 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share.

Patria Investments Stock Performance

Shares of NYSE PAX traded down $0.29 during midday trading on Thursday, hitting $12.04. 452,607 shares of the company’s stock were exchanged, compared to its average volume of 455,816. The firm has a market capitalization of $719.63 million, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.50 and a beta of 0.57. The company’s 50 day moving average price is $11.33 and its 200 day moving average price is $12.14. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.15. Patria Investments has a 12 month low of $10.63 and a 12 month high of $16.16.

Patria Investments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, November 18th. This represents a $0.60 annualized dividend and a dividend yield of 4.98%. Patria Investments’s dividend payout ratio is currently 111.11%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group cut their price objective on shares of Patria Investments from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd.

About Patria Investments

Patria Investments Limited operates as a private market investment firm focused on investing in Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds.