Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Declares $0.05 Quarterly Dividend

Key Points

• Pangaea Logistics Solutions Ltd. declared a quarterly dividend of $0.05 per share, with an annualized yield of 4.1%.
• The company has a dividend payout ratio of 25.0%, indicating that its dividend is well-covered by earnings but is projected to face a future payout ratio of 153.8%.
• Pangaea reported a revenue of $156.69 million for the quarter, exceeding analyst expectations of $129.24 million, while the latest earnings per share stood at ($0.02).

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Stockholders of record on Tuesday, September 2nd will be given a dividend of 0.05 per share by the shipping company on Monday, September 15th. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 2nd.

Pangaea Logistics Solutions has a dividend payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pangaea Logistics Solutions to earn $0.13 per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of 153.8%.

Pangaea Logistics Solutions Price Performance

Shares of PANL traded up $0.05 on Wednesday, hitting $5.08. The company's stock had a trading volume of 22,788 shares, compared to its average volume of 249,923. The company has a market capitalization of $331.42 million, a PE ratio of 23.09 and a beta of 0.77. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.46 and a quick ratio of 1.28. The company has a 50 day moving average price of $4.91 and a 200 day moving average price of $4.79. Pangaea Logistics Solutions has a fifty-two week low of $3.93 and a fifty-two week high of $7.49.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The shipping company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $156.69 million during the quarter, compared to analysts' expectations of $129.24 million. Pangaea Logistics Solutions had a return on equity of 3.38% and a net margin of 1.52%. On average, research analysts anticipate that Pangaea Logistics Solutions will post 0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PANL shares. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a report on Friday, July 18th. B. Riley reduced their target price on Pangaea Logistics Solutions from $11.00 to $9.00 and set a "buy" rating on the stock in a research note on Monday.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.