Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded at StockNews.com

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

Pangaea Logistics Solutions Stock Up 0.9 %

Shares of NASDAQ:PANL opened at $6.50 on Thursday. The company has a market capitalization of $304.86 million, a PE ratio of 8.55 and a beta of 0.86. The company has a current ratio of 2.16, a quick ratio of 1.82 and a debt-to-equity ratio of 0.57. Pangaea Logistics Solutions has a twelve month low of $5.74 and a twelve month high of $9.52. The firm has a 50 day simple moving average of $6.65 and a 200-day simple moving average of $7.14.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Thursday, August 8th. The shipping company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). The company had revenue of $131.50 million for the quarter, compared to analysts’ expectations of $98.09 million. Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. During the same quarter in the prior year, the firm posted $0.10 EPS. On average, equities analysts predict that Pangaea Logistics Solutions will post 0.76 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were issued a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.15%. Pangaea Logistics Solutions’s payout ratio is 52.63%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pangaea Logistics Solutions in the 2nd quarter valued at $58,000. Lazard Asset Management LLC acquired a new position in shares of Pangaea Logistics Solutions in the 1st quarter valued at $61,000. Mackenzie Financial Corp acquired a new position in Pangaea Logistics Solutions in the 2nd quarter valued at $110,000. Hillsdale Investment Management Inc. acquired a new position in Pangaea Logistics Solutions in the 1st quarter valued at $114,000. Finally, Algert Global LLC increased its stake in Pangaea Logistics Solutions by 20.1% in the 2nd quarter. Algert Global LLC now owns 18,215 shares of the shipping company’s stock valued at $143,000 after buying an additional 3,044 shares during the period. 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.