Patria Investments (NYSE:PAX) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Patria Investments (NYSE:PAX - Get Free Report) released its earnings results on Tuesday. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01), Zacks reports. The business had revenue of $78.10 million for the quarter, compared to analysts' expectations of $76.55 million. Patria Investments had a return on equity of 34.20% and a net margin of 26.01%. During the same quarter last year, the company posted $0.23 earnings per share.

Patria Investments Trading Down 1.6 %

Shares of PAX traded down $0.20 during trading hours on Thursday, hitting $12.13. The stock had a trading volume of 237,375 shares, compared to its average volume of 454,819. Patria Investments has a 12-month low of $10.63 and a 12-month high of $16.16. The firm has a market cap of $725.01 million, a P/E ratio of 22.74, a P/E/G ratio of 1.50 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 0.99. The company's fifty day simple moving average is $11.33 and its 200 day simple moving average is $12.14.

Patria Investments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.60 annualized dividend and a dividend yield of 4.95%. Patria Investments's dividend payout ratio is presently 111.11%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group dropped their price objective on shares of Patria Investments from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, October 22nd.

Patria Investments Company Profile

Patria Investments Limited operates as a private market investment firm focused on investing in Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.