Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a strong-buy rating in a report released on Thursday morning.

Separately, Alliance Global Partners upgraded Pangaea Logistics Solutions from a neutral rating to a buy rating and set a $10.25 target price for the company in a report on Monday, May 13th.

Pangaea Logistics Solutions Price Performance

PANL opened at $7.74 on Thursday. Pangaea Logistics Solutions has a 1 year low of $5.28 and a 1 year high of $9.52. The company’s 50 day simple moving average is $7.63 and its 200 day simple moving average is $7.81. The stock has a market capitalization of $363.01 million, a PE ratio of 10.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.75 and a current ratio of 1.97.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings results on Thursday, May 9th. The shipping company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $104.75 million for the quarter, compared to analyst estimates of $117.47 million. Pangaea Logistics Solutions had a net margin of 7.04% and a return on equity of 8.86%. During the same quarter last year, the business earned $0.11 EPS. As a group, sell-side analysts expect that Pangaea Logistics Solutions will post 0.73 EPS for the current year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date was Thursday, May 30th. Pangaea Logistics Solutions’s dividend payout ratio is presently 52.63%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its stake in shares of Pangaea Logistics Solutions by 245.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,142 shares of the shipping company’s stock valued at $59,000 after purchasing an additional 5,077 shares during the period. WealthTrust Axiom LLC boosted its position in Pangaea Logistics Solutions by 8.7% in the 4th quarter. WealthTrust Axiom LLC now owns 26,805 shares of the shipping company’s stock valued at $221,000 after buying an additional 2,149 shares during the last quarter. Bailard Inc. acquired a new stake in shares of Pangaea Logistics Solutions during the fourth quarter valued at about $262,000. SG Americas Securities LLC increased its position in shares of Pangaea Logistics Solutions by 11.8% during the fourth quarter. SG Americas Securities LLC now owns 56,332 shares of the shipping company’s stock worth $464,000 after acquiring an additional 5,963 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Pangaea Logistics Solutions in the third quarter worth about $108,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

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. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.