B. Riley Research Analysts Cut Earnings Estimates for PANL

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) – Equities research analysts at B. Riley cut their FY2024 earnings estimates for shares of Pangaea Logistics Solutions in a note issued to investors on Wednesday, November 13th. B. Riley analyst L. Burke now expects that the shipping company will earn $0.63 per share for the year, down from their previous forecast of $0.76. The consensus estimate for Pangaea Logistics Solutions’ current full-year earnings is $0.76 per share. B. Riley also issued estimates for Pangaea Logistics Solutions’ Q4 2024 earnings at $0.14 EPS and FY2025 earnings at $0.68 EPS.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Tuesday, November 12th. The shipping company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The firm had revenue of $153.12 million for the quarter, compared to the consensus estimate of $138.65 million. Pangaea Logistics Solutions had a return on equity of 7.88% and a net margin of 4.14%.

Separately, StockNews.com cut Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research note on Friday.

Pangaea Logistics Solutions Stock Down 1.7 %

PANL stock opened at $6.30 on Friday. The stock has a market cap of $295.47 million, a P/E ratio of 13.40 and a beta of 0.87. The company has a current ratio of 2.05, a quick ratio of 1.82 and a debt-to-equity ratio of 0.72. The stock’s fifty day simple moving average is $6.58 and its two-hundred day simple moving average is $7.08. Pangaea Logistics Solutions has a 1-year low of $6.09 and a 1-year high of $9.52.

Institutional Trading of Pangaea Logistics Solutions

Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Pangaea Logistics Solutions by 6.7% during the 2nd quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company’s stock valued at $188,000 after buying an additional 1,514 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Pangaea Logistics Solutions by 3.0% during the first quarter. SG Americas Securities LLC now owns 58,004 shares of the shipping company’s stock worth $404,000 after acquiring an additional 1,672 shares in the last quarter. Lakewood Asset Management LLC lifted its position in shares of Pangaea Logistics Solutions by 8.4% during the third quarter. Lakewood Asset Management LLC now owns 36,337 shares of the shipping company’s stock worth $263,000 after acquiring an additional 2,830 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Pangaea Logistics Solutions by 20.1% in the second quarter. Algert Global LLC now owns 18,215 shares of the shipping company’s stock worth $143,000 after acquiring an additional 3,044 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Pangaea Logistics Solutions by 7.9% in the third quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock valued at $446,000 after purchasing an additional 4,499 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors.

Pangaea Logistics Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 6.35%. Pangaea Logistics Solutions’s payout ratio is currently 85.11%.

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.