Pangaea Logistics Solutions Ltd. (PANL) To Go Ex-Dividend on June 1st

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) declared a quarterly dividend on Thursday, May 7th. Stockholders of record on Monday, June 1st will be paid a dividend of 0.05 per share by the shipping company on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, June 1st.

Pangaea Logistics Solutions has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pangaea Logistics Solutions to earn $0.42 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 47.6%.

Pangaea Logistics Solutions Price Performance

NASDAQ:PANL opened at $7.57 on Friday. The business’s 50-day moving average price is $7.59 and its 200 day moving average price is $7.57. The firm has a market cap of $495.23 million, a P/E ratio of 13.76 and a beta of 0.81. Pangaea Logistics Solutions has a 52-week low of $4.27 and a 52-week high of $9.39. The company has a quick ratio of 1.37, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its earnings results on Monday, May 11th. The shipping company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The firm had revenue of $170.58 million for the quarter, compared to analyst estimates of $165.79 million. Pangaea Logistics Solutions had a return on equity of 5.71% and a net margin of 5.10%. As a group, sell-side analysts predict that Pangaea Logistics Solutions will post 0.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on PANL shares. Weiss Ratings lowered Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Wall Street Zen upgraded Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Pangaea Logistics Solutions presently has an average rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Company Profile

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.