What is B. Riley’s Forecast for PANL FY2024 Earnings?

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) – Stock analysts at B. Riley reduced their FY2024 EPS estimates for Pangaea Logistics Solutions in a research note issued on Wednesday, November 13th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings per share of $0.63 for the year, down from their previous forecast of $0.76. The consensus estimate for Pangaea Logistics Solutions’ current full-year earnings is $0.76 per share. B. Riley also issued estimates for Pangaea Logistics Solutions’ Q4 2024 earnings at $0.14 EPS and FY2025 earnings at $0.68 EPS.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. Pangaea Logistics Solutions had a return on equity of 7.88% and a net margin of 4.14%. The company had revenue of $153.12 million during the quarter, compared to the consensus estimate of $138.65 million.

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

Pangaea Logistics Solutions Stock Performance

Pangaea Logistics Solutions stock opened at $6.41 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.82 and a current ratio of 2.05. The company has a 50 day moving average price of $6.57 and a 200-day moving average price of $7.09. The company has a market capitalization of $300.63 million, a PE ratio of 13.64 and a beta of 0.87. Pangaea Logistics Solutions has a fifty-two week low of $6.09 and a fifty-two week high of $9.52.

Pangaea Logistics Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.24%. The ex-dividend date is Friday, November 29th. Pangaea Logistics Solutions’s payout ratio is 85.11%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in Pangaea Logistics Solutions by 6.7% in the 2nd quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company’s stock worth $188,000 after purchasing an additional 1,514 shares during the period. SG Americas Securities LLC lifted its position in Pangaea Logistics Solutions by 3.0% during the first quarter. SG Americas Securities LLC now owns 58,004 shares of the shipping company’s stock worth $404,000 after buying an additional 1,672 shares in the last quarter. Lakewood Asset Management LLC increased its position in Pangaea Logistics Solutions by 8.4% during the third quarter. Lakewood Asset Management LLC now owns 36,337 shares of the shipping company’s stock worth $263,000 after purchasing an additional 2,830 shares during the last quarter. Algert Global LLC raised its position in shares of Pangaea Logistics Solutions by 20.1% during the 2nd quarter. Algert Global LLC now owns 18,215 shares of the shipping company’s stock valued at $143,000 after buying an additional 3,044 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Pangaea Logistics Solutions by 8.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 77,555 shares of the shipping company’s stock valued at $541,000 after purchasing an additional 6,125 shares during the last quarter. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

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.