B. Riley Issues Pessimistic Estimate for PANL Earnings

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) – Research analysts at B. Riley dropped their FY2024 EPS estimates for shares of Pangaea Logistics Solutions in a report issued on Tuesday, January 28th. B. Riley analyst L. Burke now expects that the shipping company will post earnings per share of $0.43 for the year, down from their prior estimate of $0.63. The consensus estimate for Pangaea Logistics Solutions’ current full-year earnings is $0.63 per share. B. Riley also issued estimates for Pangaea Logistics Solutions’ Q4 2024 earnings at ($0.06) EPS and FY2025 earnings at $0.13 EPS.

Separately, StockNews.com downgraded Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

Pangaea Logistics Solutions Price Performance

PANL stock opened at $5.34 on Thursday. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a 12-month low of $4.82 and a 12-month high of $9.52. The company has a market cap of $250.45 million, a price-to-earnings ratio of 11.36 and a beta of 0.84. The firm has a 50 day moving average of $5.43 and a 200-day moving average of $6.24.

Pangaea Logistics Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.10 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.49%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 85.11%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently bought and sold shares of PANL. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pangaea Logistics Solutions during the second quarter worth about $58,000. Mackenzie Financial Corp acquired a new stake in Pangaea Logistics Solutions during the second quarter worth about $110,000. Wealth Enhancement Advisory Services LLC bought a new position in Pangaea Logistics Solutions in the 3rd quarter worth about $113,000. Hudson Valley Investment Advisors Inc. ADV bought a new position in Pangaea Logistics Solutions in the 4th quarter worth about $123,000. Finally, Algert Global LLC grew its position 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 worth $143,000 after purchasing an additional 3,044 shares during the last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

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.