Pangaea Logistics Solutions (NASDAQ:PANL – Get Free Report) released its earnings results on Thursday. The shipping company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05), RTT News reports. Pangaea Logistics Solutions had a return on equity of 8.86% and a net margin of 7.04%. The company had revenue of $131.50 million during the quarter, compared to analyst estimates of $98.09 million. During the same period in the prior year, the business posted $0.10 earnings per share.
Pangaea Logistics Solutions Stock Down 1.5 %
Shares of NASDAQ PANL traded down $0.10 during trading on Monday, reaching $6.36. 176,580 shares of the stock were exchanged, compared to its average volume of 237,851. The business’s 50-day moving average price is $7.46 and its 200 day moving average price is $7.64. Pangaea Logistics Solutions has a twelve month low of $5.28 and a twelve month high of $9.52. The company has a quick ratio of 1.75, a current ratio of 1.97 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $298.30 million, a price-to-earnings ratio of 8.50 and a beta of 0.88.
Pangaea Logistics Solutions Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.29%. Pangaea Logistics Solutions’s payout ratio is currently 52.63%.
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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.
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