StockNews.com Lowers Pangaea Logistics Solutions (NASDAQ:PANL) to Buy

StockNews.com cut shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday.

Separately, Alliance Global Partners raised shares of Pangaea Logistics Solutions from a neutral rating to a buy rating and set a $10.25 price target for the company in a research report on Monday, May 13th.

Pangaea Logistics Solutions Trading Down 2.6 %

NASDAQ:PANL opened at $7.17 on Thursday. Pangaea Logistics Solutions has a 12 month low of $5.28 and a 12 month high of $9.52. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $336.27 million, a price-to-earnings ratio of 9.43 and a beta of 0.88. The firm has a fifty day simple moving average of $7.75 and a two-hundred day simple moving average of $7.78.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its earnings results on Thursday, May 9th. The shipping company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. Pangaea Logistics Solutions had a return on equity of 8.86% and a net margin of 7.04%. The company had revenue of $104.75 million during the quarter, compared to the consensus estimate of $117.47 million. During the same period last year, the business posted $0.11 EPS. Analysts expect that Pangaea Logistics Solutions will post 0.73 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a $0.10 dividend. The ex-dividend date was Thursday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.58%. Pangaea Logistics Solutions’s dividend payout ratio is presently 52.63%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of hedge funds have recently added to or reduced their stakes in PANL. Quarry LP purchased a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth approximately $35,000. Tower Research Capital LLC TRC raised its position in Pangaea Logistics Solutions by 245.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,142 shares of the shipping company’s stock valued at $59,000 after buying an additional 5,077 shares during the last quarter. Lazard Asset Management LLC bought a new position in Pangaea Logistics Solutions during the 1st quarter valued at $61,000. Hillsdale Investment Management Inc. purchased a new position in Pangaea Logistics Solutions during the 1st quarter worth $114,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Pangaea Logistics Solutions in the 1st quarter worth $157,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

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.