Pangaea Logistics Solutions (NASDAQ:PANL) Issues Earnings Results, Beats Estimates By $0.21 EPS

Pangaea Logistics Solutions (NASDAQ:PANL) posted its quarterly earnings results on Thursday. The shipping company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.21, Zacks reports. Pangaea Logistics Solutions had a return on equity of 13.94% and a net margin of 9.68%. The company had revenue of $219.06 million for the quarter, compared to analysts’ expectations of $204.90 million.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ PANL traded up $0.20 during midday trading on Friday, reaching $7.57. 564,028 shares of the stock traded hands, compared to its average volume of 352,034. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.38 and a quick ratio of 1.12. The stock has a market capitalization of $495.64 million, a PE ratio of 6.58 and a beta of 0.91. Pangaea Logistics Solutions has a one year low of $5.19 and a one year high of $9.39. The company’s 50 day moving average is $8.12 and its 200 day moving average is $7.82.

Pangaea Logistics Solutions Announces Dividend

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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, December 1st. Pangaea Logistics Solutions’s dividend payout ratio is 34.78%.

Trending Headlines about Pangaea Logistics Solutions

Here are the key news stories impacting Pangaea Logistics Solutions this week:

• Positive Sentiment: Q3 adjusted earnings were $0.52 per share, beating the $0.31 consensus and rising from $0.17 a year earlier. Revenue of $219.06 million also exceeded analysts’ $204.90 million estimate. Zacks Q3 results
• Positive Sentiment: Coverage highlighted a 31% increase in rates, which may support earnings if stronger pricing persists. Q3 earnings and rates coverage
• Positive Sentiment: Pangaea declared a quarterly dividend of $0.10 per share, payable December 15 to shareholders of record December 1. That equates to $0.40 annually and a cited yield of 5.3%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Pangaea Logistics Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 14th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) is a global provider of drybulk shipping and logistics services. The company transports industrial commodities for customers and manages the movement of cargo from origin to destination, combining marine transportation with related supply-chain services.

Pangaea owns and operates a fleet of drybulk vessels, including Handysize, Supramax and Panamax-class ships. Its cargoes include a range of drybulk commodities such as coal, grain, cement, salt, gypsum, dolomite and iron ore.