Pangaea Logistics Solutions (NASDAQ:PANL) Announces Earnings Results

Pangaea Logistics Solutions (NASDAQ:PANL) released its quarterly earnings data on Thursday. The shipping company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.21, Zacks reports. Pangaea Logistics Solutions had a net margin of 9.68% and a return on equity of 13.94%. The company had revenue of $219.06 million during the quarter, compared to the consensus estimate of $204.90 million.

Pangaea Logistics Solutions Trading Up 2.7%

PANL stock traded up $0.20 during trading on Friday, reaching $7.57. 564,028 shares of the stock were exchanged, compared to its average volume of 352,034. The company has a current ratio of 1.38, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $495.64 million, a price-to-earnings ratio of 6.58 and a beta of 0.91. The business has a 50 day moving average price of $8.12 and a 200-day moving average price of $7.82. Pangaea Logistics Solutions has a 1 year low of $5.19 and a 1 year high of $9.39.

Pangaea Logistics Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.40 dividend on an annualized basis and a yield of 5.3%. Pangaea Logistics Solutions’s payout ratio is 34.78%.

Pangaea Logistics Solutions News Roundup

Here are the key news stories impacting Pangaea Logistics Solutions this week:

• Positive Sentiment: Q3 adjusted earnings were $0.52 per share, beating the $0.31 consensus and rising from $0.17 a year earlier. Revenue of $219.06 million also exceeded analysts’ $204.90 million estimate. Zacks Q3 results
• Positive Sentiment: Coverage highlighted a 31% increase in rates, which may support earnings if stronger pricing persists. Q3 earnings and rates coverage
• Positive Sentiment: Pangaea declared a quarterly dividend of $0.10 per share, payable December 15 to shareholders of record December 1. That equates to $0.40 annually and a cited yield of 5.3%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Pangaea Logistics Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, September 14th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) is a global provider of drybulk shipping and logistics services. The company transports industrial commodities for customers and manages the movement of cargo from origin to destination, combining marine transportation with related supply-chain services.

Pangaea owns and operates a fleet of drybulk vessels, including Handysize, Supramax and Panamax-class ships. Its cargoes include a range of drybulk commodities such as coal, grain, cement, salt, gypsum, dolomite and iron ore.