Patria Investments (NYSE:PAX) Posts Earnings Results

Patria Investments (NYSE:PAX) released its earnings results on Tuesday. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01), Zacks reports. Patria Investments had a net margin of 26.01% and a return on equity of 34.20%. The company had revenue of $78.10 million for the quarter, compared to the consensus estimate of $76.55 million. During the same period in the prior year, the firm posted $0.23 EPS.

Patria Investments Stock Performance

Shares of NYSE:PAX traded down $0.26 on Thursday, hitting $12.07. 394,175 shares of the company were exchanged, compared to its average volume of 455,105. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $11.33 and its 200 day moving average price is $12.14. Patria Investments has a 1-year low of $10.63 and a 1-year high of $16.16. The firm has a market capitalization of $721.42 million, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 1.50 and a beta of 0.57.

Patria Investments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, November 18th. This represents a $0.60 dividend on an annualized basis and a yield of 4.97%. Patria Investments’s payout ratio is 111.11%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lowered their price objective on Patria Investments from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd.

Patria Investments Company Profile

Patria Investments Limited operates as a private market investment firm focused on investing in Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds.