Pangaea Logistics Solutions (NASDAQ:PANL) Announces Earnings Results

Key Points

• Quarterly results beat estimates: Pangaea reported earnings of $0.52 per share versus the $0.31 consensus, while revenue of $219.06 million topped expectations of $204.90 million.
• Dividend declared: The company announced a quarterly dividend of $0.10 per share, equivalent to $0.40 annually and a stated yield of 5.3%.
• Analyst sentiment is moderately positive: Weiss Ratings upgraded the stock to “buy,” and MarketBeat reported an average rating of “Moderate Buy” from three analysts.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) posted its quarterly earnings data on Thursday. The shipping company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.21, Zacks reports. Pangaea Logistics Solutions had a net margin of 6.70% and a return on equity of 9.42%. The business had revenue of $219.06 million for the quarter, compared to analysts' expectations of $204.90 million.

Pangaea Logistics Solutions Trading Up 2.7%

PANL traded up $0.20 during trading hours on Friday, reaching $7.57. 564,028 shares of the company's stock traded hands, compared to its average volume of 347,612. The firm 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 52-week low of $5.19 and a 52-week high of $9.39. The company has a quick ratio of 1.12, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $495.61 million, a PE ratio of 6.58 and a beta of 0.91.

Pangaea Logistics Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.10 per share. The ex-dividend date 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 presently 53.33%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Pangaea Logistics Solutions from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, September 14th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy".

Key Pangaea Logistics Solutions News

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%.

About Pangaea Logistics Solutions

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.

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