B. Riley Has Pessimistic Outlook of PANL FY2024 Earnings

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) - Analysts at B. Riley lowered their FY2024 earnings estimates for Pangaea Logistics Solutions in a report released on Tuesday, January 28th. B. Riley analyst L. Burke now expects that the shipping company will earn $0.43 per share for the year, down from their prior forecast of $0.63. The consensus estimate for Pangaea Logistics Solutions' current full-year earnings is $0.63 per share. B. Riley also issued estimates for Pangaea Logistics Solutions' Q4 2024 earnings at ($0.06) EPS and FY2025 earnings at $0.13 EPS.

Separately, StockNews.com cut shares of Pangaea Logistics Solutions from a "buy" rating to a "hold" rating in a research note on Friday, November 15th.

Pangaea Logistics Solutions Stock Performance

Shares of Pangaea Logistics Solutions stock traded up $0.03 during trading on Thursday, reaching $5.37. The company's stock had a trading volume of 139,944 shares, compared to its average volume of 220,373. The business's fifty day moving average price is $5.43 and its 200-day moving average price is $6.24. Pangaea Logistics Solutions has a one year low of $4.82 and a one year high of $9.50. The firm has a market cap of $251.62 million, a price-to-earnings ratio of 11.42 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in shares of Pangaea Logistics Solutions by 131.7% during the second quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company's stock worth $2,076,000 after buying an additional 150,713 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Pangaea Logistics Solutions by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company's stock worth $14,514,000 after acquiring an additional 112,298 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Pangaea Logistics Solutions during the 3rd quarter worth $761,000. Geode Capital Management LLC boosted its holdings in Pangaea Logistics Solutions by 7.8% in the third quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company's stock valued at $6,059,000 after acquiring an additional 60,841 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Pangaea Logistics Solutions during the 2nd quarter worth about $381,000. 60.23% of the stock is owned by institutional investors.

Pangaea Logistics Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.46%. Pangaea Logistics Solutions's payout ratio is presently 85.11%.

Pangaea Logistics Solutions Company Profile

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.