Pangaea Logistics Solutions, Ltd. (PANL) To Go Ex-Dividend on August 30th

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Investors of record on Monday, September 2nd will be paid a dividend of 0.10 per share by the shipping company on Monday, September 16th. This represents a $0.40 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend is Friday, August 30th.

Pangaea Logistics Solutions has a payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Pangaea Logistics Solutions to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 40.4%.

Pangaea Logistics Solutions Price Performance

PANL stock traded down $0.08 during midday trading on Friday, reaching $6.46. The company had a trading volume of 181,912 shares, compared to its average volume of 128,799. Pangaea Logistics Solutions has a 1-year low of $5.28 and a 1-year high of $9.52. The stock has a 50 day moving average price of $7.50 and a 200-day moving average price of $7.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.97 and a quick ratio of 1.75. The company has a market capitalization of $302.97 million, a price-to-earnings ratio of 8.50 and a beta of 0.88.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings data on Thursday, August 8th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. Pangaea Logistics Solutions had a net margin of 7.04% and a return on equity of 8.86%. The business had revenue of $131.50 million for the quarter, compared to analysts’ expectations of $98.09 million. During the same period last year, the firm posted $0.10 earnings per share. Equities research analysts expect that Pangaea Logistics Solutions will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Alliance Global Partners raised Pangaea Logistics Solutions from a “neutral” rating to a “buy” rating and set a $10.25 price objective on the stock in a report on Monday, May 13th. StockNews.com lowered Pangaea Logistics Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 30th.

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.