Pangaea Logistics Solutions (NASDAQ:PANL) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a buy rating in a research note released on Thursday.

Pangaea Logistics Solutions Trading Down 3.0 %

PANL opened at $6.45 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.16. Pangaea Logistics Solutions has a one year low of $5.51 and a one year high of $9.52. The company has a market cap of $302.52 million, a P/E ratio of 8.49 and a beta of 0.85. The business’s 50-day simple moving average is $6.74 and its 200-day simple moving average is $7.20.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings data on Thursday, August 8th. The shipping company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. The company had revenue of $131.50 million for the quarter, compared to analyst estimates of $98.09 million. During the same period in the previous year, the business posted $0.10 EPS. As a group, equities research analysts expect that Pangaea Logistics Solutions will post 0.76 EPS for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were paid a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 6.20%. Pangaea Logistics Solutions’s dividend payout ratio is presently 52.63%.

Institutional Trading of Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently made changes to their positions in PANL. Quarry LP purchased a new position in Pangaea Logistics Solutions during the 4th quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Pangaea Logistics Solutions during the second quarter worth approximately $58,000. Lazard Asset Management LLC acquired a new position in shares of Pangaea Logistics Solutions in the 1st quarter valued at $61,000. Mackenzie Financial Corp purchased a new stake in Pangaea Logistics Solutions in the 2nd quarter valued at $110,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in Pangaea Logistics Solutions in the 1st quarter valued at $114,000. 60.23% of the stock is owned by hedge funds and other institutional investors.

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.