B. Riley Has Negative Forecast for PANL FY2024 Earnings

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) – Stock analysts at B. Riley decreased their FY2024 EPS estimates for shares of Pangaea Logistics Solutions in a research report issued to clients and investors 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 forecast 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 shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research note on Friday.

Pangaea Logistics Solutions Stock Performance

Shares of PANL opened at $6.30 on Friday. Pangaea Logistics Solutions has a 12-month low of $6.09 and a 12-month high of $9.52. The company has a current ratio of 2.05, a quick ratio of 1.82 and a debt-to-equity ratio of 0.72. The company has a market cap of $295.47 million, a PE ratio of 13.40 and a beta of 0.87. The stock has a 50-day moving average price of $6.58 and a 200-day moving average price of $7.08.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its earnings results on Tuesday, November 12th. The shipping company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $153.12 million during the quarter, compared to analysts’ expectations of $138.65 million. Pangaea Logistics Solutions had a return on equity of 7.88% and a net margin of 4.14%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of PANL. Dimensional Fund Advisors LP lifted its position in Pangaea Logistics Solutions by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock worth $14,514,000 after buying an additional 112,298 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Pangaea Logistics Solutions by 2.1% in the 3rd quarter. Royce & Associates LP now owns 774,452 shares of the shipping company’s stock valued at $5,599,000 after purchasing an additional 16,207 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Pangaea Logistics Solutions by 14.1% during the 2nd quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock valued at $5,683,000 after purchasing an additional 89,570 shares during the last quarter. Vanguard Group Inc. raised its position in Pangaea Logistics Solutions by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 701,875 shares of the shipping company’s stock worth $4,892,000 after purchasing an additional 13,542 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Pangaea Logistics Solutions by 4.6% in the second quarter. Renaissance Technologies LLC now owns 614,150 shares of the shipping company’s stock worth $4,809,000 after purchasing an additional 26,750 shares during the last quarter. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 dividend on an annualized basis and a yield of 6.35%. Pangaea Logistics Solutions’s dividend payout ratio is presently 85.11%.

About Pangaea Logistics Solutions

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.