Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL – Get Free Report) 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.
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.
Read Our Latest Report on Pangaea Logistics Solutions
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.
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