Pangaea Logistics Solutions (NASDAQ:PANL) Announces Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Pangaea Logistics Solutions (NASDAQ:PANL) released its quarterly earnings results on Thursday. The shipping company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.10), Fidelity Earnings reports. The company had revenue of $118.89 million for the quarter. Pangaea Logistics Solutions had a return on equity of 8.39% and a net margin of 4.28%.

PANL stock traded down $0.14 during midday trading on Friday, hitting $3.12. 89,700 shares of the company’s stock were exchanged, compared to its average volume of 20,347. The company has a current ratio of 1.44, a quick ratio of 1.17 and a debt-to-equity ratio of 0.66. Pangaea Logistics Solutions has a 12-month low of $2.71 and a 12-month high of $4.35. The firm has a 50 day moving average price of $3.24 and a 200-day moving average price of $3.34. The stock has a market capitalization of $147.58 million, a price-to-earnings ratio of 5.89 and a beta of 0.30.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 4.49%. Pangaea Logistics Solutions’s dividend payout ratio is presently 26.42%.

Several research firms recently commented on PANL. Zacks Investment Research raised Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. ValuEngine raised Pangaea Logistics Solutions from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd.

About Pangaea Logistics Solutions

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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