B. Riley Issues Pessimistic Estimate for PANL Earnings

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) – Research analysts at B. Riley decreased their FY2024 earnings per share estimates for shares of Pangaea Logistics Solutions in a note issued to investors on Tuesday, January 28th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings per share of $0.43 for the year, down from their prior estimate of $0.63. The consensus estimate for Pangaea Logistics Solutions’ current full-year earnings is $0.63 per share. B. Riley also issued estimates for Pangaea Logistics Solutions’ Q4 2024 earnings at ($0.06) EPS and FY2025 earnings at $0.13 EPS.

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

Pangaea Logistics Solutions Price Performance

Shares of Pangaea Logistics Solutions stock opened at $5.34 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77. Pangaea Logistics Solutions has a one year low of $4.82 and a one year high of $9.52. The stock has a market capitalization of $250.45 million, a P/E ratio of 11.36 and a beta of 0.84. The business’s 50 day simple moving average is $5.43 and its two-hundred day simple moving average is $6.24.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 7.49%. The ex-dividend date was Friday, November 29th. Pangaea Logistics Solutions’s dividend payout ratio is currently 85.11%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Pangaea Logistics Solutions by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock worth $14,514,000 after acquiring an additional 112,298 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Pangaea Logistics Solutions by 131.7% during the second quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock valued at $2,076,000 after acquiring an additional 150,713 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Pangaea Logistics Solutions by 7.8% during the third quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company’s stock valued at $6,059,000 after acquiring an additional 60,841 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Pangaea Logistics Solutions during the third quarter valued at approximately $761,000. Finally, Barclays PLC grew its position in shares of Pangaea Logistics Solutions by 271.4% in the third quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock valued at $339,000 after purchasing an additional 34,273 shares in the last quarter. Hedge funds and other institutional investors own 60.23% of the company’s stock.

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.