Pangaea Logistics Solutions (NASDAQ:PANL) Stock Price Up 6.1% - Still a Buy?

Key Points

• Pangaea Logistics Solutions shares rose 6.1% to about $9.38 in Thursday mid-day trading, though volume was 54% below its average.
• Recent analyst ratings were positive: Zacks Research upgraded the stock to “strong buy,” Weiss Ratings raised its rating, and MarketBeat’s consensus rating is “Buy.”
• The company beat quarterly expectations, reporting $0.52 in earnings per share and $219.06 million in revenue. It also announced a quarterly dividend of $0.10 per share, equivalent to a 4.2% annual yield.

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report)'s share price rose 6.1% during mid-day trading on Thursday. The stock traded as high as $9.32 and last traded at $9.3810. 246,860 shares were traded during trading, a decline of 54% from the average session volume of 541,328 shares. The stock had previously closed at $8.84.

Wall Street Analysts Forecast Growth

PANL has been the subject of a number of recent research reports. Zacks Research upgraded shares of Pangaea Logistics Solutions from a "hold" rating to a "strong-buy" rating in a report on Monday. Weiss Ratings upgraded shares of Pangaea Logistics Solutions from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy".

Pangaea Logistics Solutions Stock Performance

The company has a quick ratio of 1.12, a current ratio of 1.52 and a debt-to-equity ratio of 0.50. The company has a market cap of $628.18 million, a PE ratio of 8.35 and a beta of 0.91. The stock's 50 day simple moving average is $8.15 and its two-hundred day simple moving average is $7.83.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last issued its earnings results on Thursday, November 5th. The shipping company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.21. Pangaea Logistics Solutions had a return on equity of 13.64% and a net margin of 9.68%. The firm had revenue of $219.06 million for the quarter, compared to analysts' expectations of $204.90 million. As a group, research analysts anticipate that Pangaea Logistics Solutions Ltd. will post 1.22 earnings per share for the current year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Pangaea Logistics Solutions's payout ratio is currently 34.78%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Large investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in shares of Pangaea Logistics Solutions by 5.6% during the 1st quarter. Bank of America Corp DE now owns 28,844 shares of the shipping company's stock valued at $204,000 after acquiring an additional 1,534 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Pangaea Logistics Solutions by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 80,261 shares of the shipping company's stock valued at $568,000 after purchasing an additional 1,732 shares in the last quarter. State of Alaska Department of Revenue raised its position in Pangaea Logistics Solutions by 77.6% in the third quarter. State of Alaska Department of Revenue now owns 5,238 shares of the shipping company's stock valued at $41,000 after purchasing an additional 2,289 shares during the period. Lakewood Asset Management LLC lifted its stake in shares of Pangaea Logistics Solutions by 6.8% during the third quarter. Lakewood Asset Management LLC now owns 45,173 shares of the shipping company's stock worth $362,000 after purchasing an additional 2,894 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of Pangaea Logistics Solutions by 25.0% during the second quarter. Tidal Investments LLC now owns 49,705 shares of the shipping company's stock worth $323,000 after purchasing an additional 9,943 shares in the last quarter. Institutional investors and hedge funds own 60.23% of the company's stock.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global provider of dry-bulk shipping and logistics services. The company transports commodities such as minerals, grain and other bulk cargoes, coordinating ocean carriage with related logistics services. Its operations include vessel ownership and chartering, cargo planning, port and terminal services, stevedoring, and cargo loading and unloading. Pangaea also operates specialized vessels, including ice-class ships designed to serve ports and routes with challenging ice conditions.

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