Pangaea Logistics Solutions (NASDAQ:PANL) Announces Earnings Results

Pangaea Logistics Solutions (NASDAQ:PANL) posted its quarterly earnings data on Thursday. The shipping company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.22, Zacks reports. Pangaea Logistics Solutions had a return on equity of 7.88% and a net margin of 4.14%.

Pangaea Logistics Solutions Price Performance

NASDAQ PANL traded down $0.04 on Thursday, reaching $4.84. The company had a trading volume of 213,952 shares, compared to its average volume of 208,876. The firm’s 50 day moving average price is $5.29 and its 200 day moving average price is $5.87. Pangaea Logistics Solutions has a 12 month low of $4.69 and a 12 month high of $8.32. The stock has a market capitalization of $314.41 million, a PE ratio of 10.30 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72.

Pangaea Logistics Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 8.26%. The ex-dividend date of this dividend is Friday, February 28th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 85.11%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

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.