Pangaea Logistics Solutions (NASDAQ:PANL) Releases Earnings Results, Beats Expectations By $0.06 EPS

Pangaea Logistics Solutions (NASDAQ:PANL) released its quarterly earnings results on Monday. The shipping company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06, Zacks reports. Pangaea Logistics Solutions had a return on equity of 7.88% and a net margin of 4.14%. During the same quarter last year, the company earned $0.14 EPS.

Pangaea Logistics Solutions Stock Up 10.2%

Shares of PANL stock traded up $0.41 on Monday, hitting $4.42. 361,566 shares of the stock were exchanged, compared to its average volume of 192,730. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $290.08 million, a P/E ratio of 9.40 and a beta of 0.63. The business has a 50-day moving average of $4.55 and a 200 day moving average of $5.21. Pangaea Logistics Solutions has a fifty-two week low of $3.93 and a fifty-two week high of $8.32.

Pangaea Logistics Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.10 per share. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 9.05%. Pangaea Logistics Solutions’s dividend payout ratio is currently 64.52%.

Analyst Ratings Changes

Separately, StockNews.com raised Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, March 25th.

About Pangaea Logistics Solutions

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.