Pangaea Logistics Solutions (PANL) Announces Quarterly Earnings Results

Pangaea Logistics Solutions (NASDAQ:PANL) released its quarterly earnings data on Tuesday. The shipping company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02, RTT News reports. Pangaea Logistics Solutions had a net margin of 4.76% and a return on equity of 10.19%. The business had revenue of $79.54 million during the quarter, compared to analyst estimates of $81.00 million. During the same quarter last year, the business earned $0.10 earnings per share.

Shares of Pangaea Logistics Solutions stock traded up $0.05 during trading on Wednesday, hitting $3.45. The stock had a trading volume of 5,482 shares, compared to its average volume of 30,905. The firm has a market capitalization of $154.87 million, a PE ratio of 6.51 and a beta of 0.32. The company has a current ratio of 1.44, a quick ratio of 1.19 and a debt-to-equity ratio of 0.60. Pangaea Logistics Solutions has a 12 month low of $2.78 and a 12 month high of $3.90.

An institutional investor recently raised its position in Pangaea Logistics Solutions stock. Dimensional Fund Advisors LP lifted its position in Pangaea Logistics Solutions Ltd (NASDAQ:PANL) by 37.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,547 shares of the shipping company’s stock after acquiring an additional 30,352 shares during the quarter. Dimensional Fund Advisors LP owned 0.25% of Pangaea Logistics Solutions worth $338,000 at the end of the most recent reporting period. Institutional investors own 26.72% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. TheStreet upgraded shares of Pangaea Logistics Solutions from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Zacks Investment Research upgraded shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a report on Wednesday, March 27th. Noble Financial restated a “buy” rating and issued a $5.50 target price on shares of Pangaea Logistics Solutions in a report on Friday, March 22nd. Finally, ValuEngine upgraded shares of Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st.

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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. The company offers various dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.

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Earnings History for Pangaea Logistics Solutions (NASDAQ:PANL)

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