Pangaea Logistics Solutions (NASDAQ:PANL) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a buy rating in a report published on Thursday morning.

Pangaea Logistics Solutions Trading Up 2.6 %

NASDAQ:PANL opened at $6.65 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 business’s 50-day simple moving average is $6.77 and its 200 day simple moving average is $7.22. The stock has a market cap of $311.90 million, a price-to-earnings ratio of 8.75 and a beta of 0.85.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Thursday, August 8th. The shipping company reported $0.10 EPS for the quarter, missing the consensus estimate 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 business had revenue of $131.50 million during the quarter, compared to analyst estimates of $98.09 million. During the same quarter last year, the firm posted $0.10 EPS. As a group, sell-side analysts predict that Pangaea Logistics Solutions will post 0.76 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.02%. The ex-dividend date was Friday, August 30th. Pangaea Logistics Solutions’s payout ratio is currently 52.63%.

Institutional Trading of Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently bought and sold shares of PANL. Quarry LP acquired a new stake in Pangaea Logistics Solutions during the fourth quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pangaea Logistics Solutions during the second quarter valued at approximately $58,000. Lazard Asset Management LLC acquired a new stake in Pangaea Logistics Solutions during the first quarter valued at approximately $61,000. Mackenzie Financial Corp acquired a new stake in shares of Pangaea Logistics Solutions during the 2nd quarter worth approximately $110,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Pangaea Logistics Solutions during the 1st quarter worth approximately $114,000. 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.