B. Riley Has Bearish Estimate for PANL FY2024 Earnings

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) – Equities research analysts at B. Riley decreased their FY2024 EPS estimates for shares of Pangaea Logistics Solutions in a research note issued on Tuesday, January 28th. B. Riley analyst L. Burke now expects that the shipping company will earn $0.43 per share for the year, down from their previous 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 cut shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

Pangaea Logistics Solutions Stock Up 0.4 %

Shares of NASDAQ:PANL opened at $5.36 on Thursday. Pangaea Logistics Solutions has a 12 month low of $4.82 and a 12 month high of $9.50. The firm has a market cap of $251.38 million, a P/E ratio of 11.40 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $5.42 and its two-hundred day moving average price is $6.23.

Pangaea Logistics Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.46%. Pangaea Logistics Solutions’s dividend payout ratio is 85.11%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings 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 valued at $14,514,000 after purchasing an additional 112,298 shares during the period. Marshall Wace LLP bought a new stake in Pangaea Logistics Solutions in the second quarter valued at approximately $381,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Pangaea Logistics Solutions in the second quarter valued at approximately $270,000. AQR Capital Management LLC boosted its stake in shares of Pangaea Logistics Solutions by 131.7% during the 2nd quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock worth $2,076,000 after acquiring an additional 150,713 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in shares of Pangaea Logistics Solutions during the 2nd quarter worth approximately $110,000. 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.