Pangaea Logistics Solutions (PANL) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Pangaea Logistics Solutions (NASDAQ:PANL) announced its earnings results on Friday. The shipping company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01), Fidelity Earnings reports. The company had revenue of $95.35 million for the quarter, compared to analysts’ expectations of $120.45 million. Pangaea Logistics Solutions had a net margin of 5.53% and a return on equity of 10.42%.

PANL stock traded down $0.01 during midday trading on Friday, hitting $3.42. 37,939 shares of the company’s stock were exchanged, compared to its average volume of 15,576. The company has a quick ratio of 1.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.64. Pangaea Logistics Solutions has a 12-month low of $2.13 and a 12-month high of $8.40. The company has a market capitalization of $149.38 million, a PE ratio of 9.00 and a beta of 0.31.

A hedge fund recently raised its stake in Pangaea Logistics Solutions stock. Dimensional Fund Advisors LP boosted its holdings in shares of Pangaea Logistics Solutions Ltd (NASDAQ:PANL) by 121.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,825 shares of the shipping company’s stock after purchasing an additional 24,000 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.10% of Pangaea Logistics Solutions worth $132,000 at the end of the most recent quarter. 27.29% of the stock is owned by institutional investors and hedge funds.

PANL has been the topic of several analyst reports. Zacks Investment Research upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a report on Thursday, August 23rd. Noble Financial restated a “buy” rating and set a $5.50 price objective on shares of Pangaea Logistics Solutions in a report on Wednesday, August 29th. Finally, TheStreet upgraded Pangaea Logistics Solutions from a “c” rating to a “b-” rating in a report on Friday, August 31st.

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About Pangaea Logistics Solutions

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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Earnings History for Pangaea Logistics Solutions (NASDAQ:PANL)

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