Pangaea Logistics Solutions (NASDAQ:PANL) Releases Earnings Results, Misses Expectations By $0.02 EPS

Pangaea Logistics Solutions (NASDAQ:PANL) posted its quarterly earnings data on Tuesday. The shipping company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02), FiscalAI reports. The company had revenue of $183.88 million for the quarter, compared to analysts’ expectations of $181.75 million. Pangaea Logistics Solutions had a return on equity of 3.26% and a net margin of 2.67%.

Pangaea Logistics Solutions Stock Down 12.8%

Pangaea Logistics Solutions stock traded down $1.07 during midday trading on Wednesday, reaching $7.29. The company’s stock had a trading volume of 593,338 shares, compared to its average volume of 675,722. The company has a market cap of $473.34 million, a P/E ratio of 24.31 and a beta of 0.77. The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $8.10 and a 200-day simple moving average of $6.65. Pangaea Logistics Solutions has a fifty-two week low of $3.93 and a fifty-two week high of $9.39.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, February 27th. Pangaea Logistics Solutions’s dividend payout ratio is 64.52%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PANL. Royal Bank of Canada grew its holdings in shares of Pangaea Logistics Solutions by 13.0% during the fourth quarter. Royal Bank of Canada now owns 18,123 shares of the shipping company’s stock worth $125,000 after buying an additional 2,091 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Pangaea Logistics Solutions by 2.1% in the fourth quarter. First Trust Advisors LP now owns 106,813 shares of the shipping company’s stock valued at $735,000 after purchasing an additional 2,159 shares during the period. Alliancebernstein L.P. increased its position in shares of Pangaea Logistics Solutions by 7.0% in the third quarter. Alliancebernstein L.P. now owns 35,010 shares of the shipping company’s stock valued at $178,000 after buying an additional 2,300 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Pangaea Logistics Solutions by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock valued at $31,000 after purchasing an additional 2,864 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Pangaea Logistics Solutions by 18.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock worth $102,000 after acquiring an additional 3,344 shares during the period. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PANL shares. Zacks Research cut Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. B. Riley Financial reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a research report on Wednesday, January 28th. Wall Street Zen upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research note on Monday, December 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Pangaea Logistics Solutions presently has a consensus rating of “Hold” and an average price target 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.