Pangaea Logistics Solutions Ltd (PANL) Plans Quarterly Dividend of $0.04

Pangaea Logistics Solutions Ltd (NASDAQ:PANL) declared a quarterly dividend on Monday, May 20th, RTT News reports. Stockholders of record on Monday, June 3rd will be given a dividend of 0.035 per share by the shipping company on Tuesday, June 11th. This represents a $0.14 annualized dividend and a dividend yield of 4.06%.

Pangaea Logistics Solutions stock opened at $3.45 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.19 and a current ratio of 1.64. Pangaea Logistics Solutions has a 12 month low of $2.78 and a 12 month high of $3.90. The firm has a market cap of $153.53 million, a PE ratio of 6.51 and a beta of 0.32.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Tuesday, May 14th. The shipping company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Pangaea Logistics Solutions had a net margin of 4.59% and a return on equity of 9.66%. The business had revenue of $79.54 million for the quarter, compared to analysts’ expectations of $81.00 million. During the same period in the previous year, the company posted $0.10 EPS. As a group, equities analysts expect that Pangaea Logistics Solutions will post 0.68 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Pangaea Logistics Solutions stock. Dimensional Fund Advisors LP grew its stake in shares of Pangaea Logistics Solutions Ltd (NASDAQ:PANL) by 37.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 111,547 shares of the shipping company’s stock after buying an additional 30,352 shares during the period. Dimensional Fund Advisors LP owned approximately 0.25% of Pangaea Logistics Solutions worth $338,000 as of its most recent filing with the SEC. 26.72% of the stock is owned by institutional investors.

Several equities analysts have recently commented on PANL shares. TheStreet upgraded shares of Pangaea Logistics Solutions from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Zacks Investment Research raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research report on Wednesday, March 27th. Noble Financial reissued a “buy” rating and set a $5.50 target price on shares of Pangaea Logistics Solutions in a research report on Friday, March 22nd. Finally, ValuEngine raised shares of Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st.

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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. The company offers various dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.

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