Pangaea Logistics Solutions (NASDAQ: PANL) released its quarterly earnings results on Friday. The shipping company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01), Fidelity Earnings reports. The business had revenue of $95.35 million during the quarter, compared to analyst estimates of $120.45 million. Pangaea Logistics Solutions had a net margin of 6.00% and a return on equity of 10.80%.
PANL stock opened at $3.42 on Friday. The company has a market capitalization of $151.01 million, a PE ratio of 6.35 and a beta of 0.31. Pangaea Logistics Solutions has a 12 month low of $2.13 and a 12 month high of $8.40. The company has a current ratio of 1.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64.
PANL has been the topic of several research reports. Noble Financial reiterated a buy rating and issued a $5.50 price target on shares of Pangaea Logistics Solutions in a research report on Wednesday, August 29th. Zacks Investment Research upgraded shares of Pangaea Logistics Solutions from a hold rating to a buy rating and set a $3.50 price target on the stock in a research report on Thursday, August 23rd. Finally, TheStreet upgraded shares of Pangaea Logistics Solutions from a rating to a rating in a research report on Friday, August 31st.
A hedge fund recently raised its stake in Pangaea Logistics Solutions stock. Dimensional Fund Advisors LP grew its holdings in Pangaea Logistics Solutions Ltd (NASDAQ: PANL) by 121.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,825 shares of the shipping company’s stock after purchasing an additional 24,000 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.10% of Pangaea Logistics Solutions worth $132,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 27.29% of the company’s stock.
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