Pangaea Logistics Solutions Ltd. (PANL) To Go Ex-Dividend on June 1st

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) declared a quarterly dividend on Monday, May 11th. Shareholders of record on Monday, June 1st will be paid a dividend of 0.05 per share by the shipping company on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, June 1st.

Pangaea Logistics Solutions has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pangaea Logistics Solutions to earn $0.35 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 57.1%.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ PANL opened at $8.64 on Wednesday. The firm has a market capitalization of $564.36 million, a P/E ratio of 15.71 and a beta of 0.81. The company has a quick ratio of 1.46, a current ratio of 1.69 and a debt-to-equity ratio of 0.69. The stock’s 50-day simple moving average is $7.55 and its two-hundred day simple moving average is $7.30. Pangaea Logistics Solutions has a twelve month low of $4.22 and a twelve month high of $9.39.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Monday, May 11th. The shipping company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The business had revenue of $170.58 million for the quarter, compared to analyst estimates of $165.79 million. Pangaea Logistics Solutions had a return on equity of 5.77% and a net margin of 5.10%. As a group, equities analysts anticipate that Pangaea Logistics Solutions will post 0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PANL. Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Friday, March 27th. B. Riley Financial reiterated a “buy” rating on shares of Pangaea Logistics Solutions in a research report on Wednesday, January 28th. Finally, Wall Street Zen cut Pangaea Logistics Solutions from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 19th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Pangaea Logistics Solutions has an average rating of “Hold” and an average target price 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.