Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) - Research analysts at B. Riley reduced their FY2024 EPS estimates for shares of Pangaea Logistics Solutions in a report issued on Wednesday, November 13th. B. Riley analyst L. Burke now forecasts that the shipping company will earn $0.63 per share for the year, down from their prior estimate of $0.76. The consensus estimate for Pangaea Logistics Solutions' current full-year earnings is $0.76 per share. B. Riley also issued estimates for Pangaea Logistics Solutions' Q4 2024 earnings at $0.14 EPS and FY2025 earnings at $0.68 EPS.
Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $153.12 million for the quarter, compared to analysts' expectations of $138.65 million. Pangaea Logistics Solutions had a return on equity of 7.88% and a net margin of 4.14%.
Separately, StockNews.com lowered Pangaea Logistics Solutions from a "buy" rating to a "hold" rating in a report on Friday.
View Our Latest Report on Pangaea Logistics Solutions
Pangaea Logistics Solutions Stock Performance
Shares of NASDAQ PANL traded down $0.11 during midday trading on Friday, reaching $6.30. 127,634 shares of the company traded hands, compared to its average volume of 211,225. Pangaea Logistics Solutions has a 52 week low of $6.09 and a 52 week high of $9.52. The stock has a 50-day moving average price of $6.58 and a 200 day moving average price of $7.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.82. The company has a market cap of $295.47 million, a price-to-earnings ratio of 13.40 and a beta of 0.87.
Pangaea Logistics Solutions Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.35%. The ex-dividend date is Friday, November 29th. Pangaea Logistics Solutions's dividend payout ratio is currently 85.11%.
Hedge Funds Weigh In On Pangaea Logistics Solutions
A number of institutional investors and hedge funds have recently bought and sold shares of PANL. Allspring Global Investments Holdings LLC increased its holdings in Pangaea Logistics Solutions by 14,653.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 34,671 shares of the shipping company's stock valued at $242,000 after purchasing an additional 34,436 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Pangaea Logistics Solutions by 55.7% during the 1st quarter. BNP Paribas Financial Markets now owns 59,895 shares of the shipping company's stock worth $417,000 after buying an additional 21,417 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Pangaea Logistics Solutions by 8.6% in the first quarter. Janney Montgomery Scott LLC now owns 77,555 shares of the shipping company's stock valued at $541,000 after purchasing an additional 6,125 shares during the last quarter. SG Americas Securities LLC raised its position in Pangaea Logistics Solutions by 3.0% in the first quarter. SG Americas Securities LLC now owns 58,004 shares of the shipping company's stock valued at $404,000 after purchasing an additional 1,672 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Pangaea Logistics Solutions by 14,583.3% in the first quarter. Russell Investments Group Ltd. now owns 31,716 shares of the shipping company's stock valued at $221,000 after buying an additional 31,500 shares during the period. Institutional investors and hedge funds own 60.23% of the company's stock.
Pangaea Logistics Solutions Company Profile
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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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