Brokerages Expect Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) to Announce $0.37 EPS

Wall Street analysts forecast that Pangaea Logistics Solutions, Ltd. (NASDAQ:PANLGet Rating) will announce earnings per share of $0.37 for the current quarter, according to Zacks. Two analysts have provided estimates for Pangaea Logistics Solutions’ earnings. The highest EPS estimate is $0.60 and the lowest is $0.14. Pangaea Logistics Solutions posted earnings per share of $0.29 in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.6%. The firm is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Pangaea Logistics Solutions will report full-year earnings of $1.67 per share for the current financial year, with EPS estimates ranging from $1.10 to $2.23. For the next year, analysts anticipate that the business will report earnings of $2.12 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Pangaea Logistics Solutions.

Pangaea Logistics Solutions (NASDAQ:PANLGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The shipping company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. Pangaea Logistics Solutions had a net margin of 10.39% and a return on equity of 25.96%. During the same period last year, the company earned $0.09 EPS.

Several brokerages have commented on PANL. Zacks Investment Research upgraded shares of Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating and set a $5.50 price objective for the company in a report on Tuesday, March 1st. StockNews.com assumed coverage on shares of Pangaea Logistics Solutions in a report on Thursday, March 31st. They set a “hold” rating on the stock.

Shares of NASDAQ:PANL traded down $0.13 during trading on Friday, reaching $6.44. The company had a trading volume of 465,018 shares, compared to its average volume of 385,049. Pangaea Logistics Solutions has a 12 month low of $3.42 and a 12 month high of $6.68. The stock has a market capitalization of $296.28 million, a P/E ratio of 3.54 and a beta of 0.59. The company has a fifty day moving average of $5.34 and a two-hundred day moving average of $4.65. The company has a current ratio of 1.81, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $0.30 annualized dividend and a dividend yield of 4.66%. This is a boost from Pangaea Logistics Solutions’s previous quarterly dividend of $0.05. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 10.99%.

A number of institutional investors and hedge funds have recently made changes to their positions in PANL. Counterpoint Mutual Funds LLC increased its position in Pangaea Logistics Solutions by 67.9% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 6,863 shares of the shipping company’s stock valued at $26,000 after acquiring an additional 2,776 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Pangaea Logistics Solutions in the fourth quarter worth about $38,000. Engineers Gate Manager LP purchased a new stake in Pangaea Logistics Solutions in the first quarter worth about $66,000. Bank of New York Mellon Corp bought a new position in Pangaea Logistics Solutions in the first quarter worth about $69,000. Finally, Lazard Asset Management LLC raised its holdings in Pangaea Logistics Solutions by 35.2% in the first quarter. Lazard Asset Management LLC now owns 15,718 shares of the shipping company’s stock worth $87,000 after purchasing an additional 4,091 shares in the last quarter. Institutional investors own 54.38% of the company’s stock.

About Pangaea Logistics Solutions (Get Rating)

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company 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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