Pangaea Logistics Solutions (NASDAQ:PANL) Announces Earnings Results

Key Points

• Pangaea Logistics Solutions beat earnings expectations: Quarterly EPS was $0.26, topping the $0.24 consensus estimate, while revenue of $187.12 million fell short of the expected $192.76 million.
• Shares declined 1.2% to $7.33 after the results. The stock has traded between $4.54 and $9.39 over the past year and has a market capitalization of approximately $479.5 million.
• Analyst sentiment remains mixed, with one Buy and two Hold ratings, producing a consensus Hold rating and an average price target of $9.00. Institutional investors and hedge funds own 60.23% of the company.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) announced its earnings results on Monday. The shipping company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02, Zacks reports. Pangaea Logistics Solutions had a return on equity of 5.71% and a net margin of 5.10%.The business had revenue of $187.12 million for the quarter, compared to analysts' expectations of $192.76 million.

Pangaea Logistics Solutions Stock Down 1.2%

NASDAQ:PANL traded down $0.09 during midday trading on Monday, reaching $7.33. 433,061 shares of the stock traded hands, compared to its average volume of 596,835. The stock has a market capitalization of $479.53 million, a PE ratio of 13.33 and a beta of 0.79. Pangaea Logistics Solutions has a 12-month low of $4.54 and a 12-month high of $9.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.63. The business has a 50-day moving average of $7.26 and a two-hundred day moving average of $7.71.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Large investors have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC acquired a new position in Pangaea Logistics Solutions during the 4th quarter valued at about $112,000. Jain Global LLC purchased a new stake in Pangaea Logistics Solutions in the fourth quarter valued at about $89,000. Jump Financial LLC acquired a new stake in Pangaea Logistics Solutions in the fourth quarter worth about $90,000. PharVision Advisers LLC acquired a new stake in Pangaea Logistics Solutions in the third quarter worth about $91,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Pangaea Logistics Solutions during the third quarter worth about $74,000. 60.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in 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 analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock 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.

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