Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) posted its quarterly earnings data on Monday. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.12, Zacks reports. The business had revenue of $122.80 million during the quarter, compared to the consensus estimate of $130.37 million. Pangaea Logistics Solutions had a net margin of 4.14% and a return on equity of 7.88%. During the same period in the prior year, the firm earned $0.14 EPS.
Pangaea Logistics Solutions Stock Performance
PANL stock traded up $0.13 during trading on Friday, reaching $4.38. 352,124 shares of the stock were exchanged, compared to its average volume of 194,746. Pangaea Logistics Solutions has a twelve month low of $3.93 and a twelve month high of $8.32. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $287.42 million, a P/E ratio of 9.32 and a beta of 0.63. The stock has a 50 day simple moving average of $4.49 and a 200-day simple moving average of $5.15.
Pangaea Logistics Solutions Announces Dividend
The business also recently announced a dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.05 dividend. The ex-dividend date is Monday, June 2nd. Pangaea Logistics Solutions's payout ratio is presently 58.82%.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded Pangaea Logistics Solutions from a "hold" rating to a "sell" rating in a research report on Wednesday.
Get Our Latest Report on PANL
Institutional Trading of Pangaea Logistics Solutions
A number of hedge funds have recently modified their holdings of PANL. AQR Capital Management LLC acquired a new position in shares of Pangaea Logistics Solutions in the first quarter valued at $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 valued at $102,000 after purchasing an additional 3,344 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Pangaea Logistics Solutions by 6.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company's stock worth $1,112,000 after purchasing an additional 14,357 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Pangaea Logistics Solutions by 7.3% during the 1st quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company's stock worth $1,818,000 after purchasing an additional 25,851 shares in the last quarter. Institutional investors own 60.23% of the company's stock.
About Pangaea Logistics Solutions
(
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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.
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