Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Declares Dividend Increase - $0.10 Per Share

Key Points

• Pangaea Logistics Solutions doubled its quarterly dividend to $0.10 per share, payable September 15 to shareholders of record September 1. The new annualized dividend implies a 5.5% yield, with a 25% current payout ratio.
• The company beat quarterly earnings expectations, reporting $0.26 in EPS versus the $0.24 consensus, although revenue of $187.12 million came in below analysts’ $192.76 million forecast.
• PANL shares opened at $7.33, within a 52-week range of $4.54 to $9.39. Analyst sentiment remains mixed, with one Buy and two Hold ratings, producing an overall “Hold” consensus.

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report) announced a quarterly dividend on Monday, August 10th. Stockholders of record on Tuesday, September 1st will be given a dividend of 0.10 per share by the shipping company on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a 100.0% increase from Pangaea Logistics Solutions's previous quarterly dividend of $0.05.

Pangaea Logistics Solutions has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of PANL stock opened at $7.33 on Tuesday. The company's fifty day simple moving average is $7.25 and its 200-day simple moving average is $7.71. Pangaea Logistics Solutions has a 52 week low of $4.54 and a 52 week high of $9.39. The company has a current ratio of 1.63, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The company has a market cap of $479.49 million, a PE ratio of 13.33 and a beta of 0.79.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The shipping company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. The firm had revenue of $187.12 million during the quarter, compared to analysts' expectations of $192.76 million. As a group, equities research analysts anticipate that Pangaea Logistics Solutions will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PANL. Wall Street Zen upgraded Pangaea Logistics Solutions from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Weiss Ratings lowered Pangaea Logistics Solutions from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold".

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.

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