B. Riley Has Negative Forecast for PANL FY2024 Earnings

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) – Equities research analysts at B. Riley lowered their FY2024 earnings estimates for Pangaea Logistics Solutions in a report released on Wednesday, November 13th. B. Riley analyst L. Burke now expects that the shipping company will post earnings per share of $0.63 for the year, down from their previous estimate of $0.76. The consensus estimate for Pangaea Logistics Solutions’ current full-year earnings is $0.76 per share. B. Riley also issued estimates for Pangaea Logistics Solutions’ Q4 2024 earnings at $0.14 EPS and FY2025 earnings at $0.68 EPS.

Separately, StockNews.com downgraded Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research report on Friday.

Pangaea Logistics Solutions Stock Down 1.7 %

Shares of NASDAQ PANL opened at $6.30 on Friday. The stock has a fifty day moving average price of $6.58 and a 200 day moving average price of $7.08. The company has a current ratio of 2.05, a quick ratio of 1.82 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a 12-month low of $6.09 and a 12-month high of $9.52. The company has a market cap of $295.47 million, a P/E ratio of 13.40 and a beta of 0.87.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 6.35%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 85.11%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of large investors have recently added to or reduced their stakes in PANL. Point72 Asia Singapore Pte. Ltd. purchased a new position in Pangaea Logistics Solutions in the 2nd quarter valued at about $58,000. Lazard Asset Management LLC purchased a new position in Pangaea Logistics Solutions in the first quarter valued at about $61,000. Mackenzie Financial Corp acquired a new stake in Pangaea Logistics Solutions during the 2nd quarter valued at approximately $110,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Pangaea Logistics Solutions during the 3rd quarter worth approximately $113,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in Pangaea Logistics Solutions during the 1st quarter worth approximately $114,000. 60.23% of the stock is owned by institutional investors and hedge funds.

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.