Pangaea Logistics Solutions (NASDAQ:PANL) Issues Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Pangaea Logistics Solutions (NASDAQ:PANL) issued its quarterly earnings data on Thursday. The shipping company reported $0.16 earnings per share for the quarter, topping the consensus estimate 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 Trading Down 0.8 %

Pangaea Logistics Solutions stock traded down $0.04 during mid-day trading on Thursday, hitting $4.84. The company’s stock had a trading volume of 213,952 shares, compared to its average volume of 208,876. The company has a 50 day moving average of $5.29 and a 200-day moving average of $5.87. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. Pangaea Logistics Solutions has a one year low of $4.69 and a one year high of $8.32. The stock has a market cap of $314.41 million, a PE ratio of 10.30 and a beta of 0.84.

Pangaea Logistics Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 8.26%. Pangaea Logistics Solutions’s payout ratio is 85.11%.

Wall Street Analyst Weigh In

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

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.