Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks reports.

Separately, Weiss Ratings raised Pangaea Logistics Solutions from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, Pangaea Logistics Solutions currently has an average rating of “Buy”.

Pangaea Logistics Solutions Stock Performance

PANL stock opened at $8.54 on Monday. The firm has a market cap of $559.15 million, a PE ratio of 7.43 and a beta of 0.91. 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 business has a 50 day moving average of $8.13 and a 200-day moving average of $7.83. Pangaea Logistics Solutions has a 12-month low of $6.21 and a 12-month high of $9.39.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Thursday, November 5th. The shipping company reported $0.52 EPS for the quarter, topping 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 business had revenue of $219.06 million for the quarter, compared to analyst estimates of $204.90 million. As a group, sell-side analysts expect that Pangaea Logistics Solutions will post 1.22 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, December 1st. This represents a $0.40 annualized dividend and a dividend yield of 4.7%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 34.78%.

Institutional Trading of Pangaea Logistics Solutions

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in Pangaea Logistics Solutions by 13.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock worth $20,421,000 after buying an additional 351,385 shares during the period. Renaissance Technologies LLC grew its stake in Pangaea Logistics Solutions by 33.0% in the 1st quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock valued at $5,282,000 after buying an additional 185,100 shares in the last quarter. Sei Investments Co. bought a new stake in Pangaea Logistics Solutions during the 1st quarter valued at $933,000. Ritholtz Wealth Management raised its holdings in Pangaea Logistics Solutions by 143.8% during the 3rd quarter. Ritholtz Wealth Management now owns 197,773 shares of the shipping company’s stock valued at $1,586,000 after acquiring an additional 116,658 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Pangaea Logistics Solutions by 66.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 208,875 shares of the shipping company’s stock valued at $1,479,000 after acquiring an additional 83,380 shares during the period. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

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.