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

Patria Investments (NYSE:PAX) released 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 return on equity of 34.20% and a net margin of 26.01%. The company had revenue of $78.10 million for the quarter, compared to analyst estimates of $76.55 million. During the same period last year, the firm posted $0.23 earnings per share.

Patria Investments Stock Down 1.6 %

PAX traded down $0.20 on Thursday, reaching $12.13. The company’s stock had a trading volume of 237,375 shares, compared to its average volume of 454,819. The business’s 50 day moving average is $11.33 and its 200 day moving average is $12.14. Patria Investments has a 1 year low of $10.63 and a 1 year high of $16.16. The stock has a market cap of $725.01 million, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 1.50 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.99.

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 given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend is Monday, November 18th. Patria Investments’s payout ratio is 111.11%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group reduced their target price on shares of Patria Investments from $16.00 to $14.00 and set a “buy” rating on the stock 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.