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

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) – Stock analysts at B. Riley cut their FY2024 EPS estimates for Pangaea Logistics Solutions in a report released on Tuesday, January 28th. B. Riley analyst L. Burke now anticipates that the shipping company will earn $0.43 per share for the year, down from their previous estimate of $0.63. The consensus estimate for Pangaea Logistics Solutions’ current full-year earnings is $0.43 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 lowered Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

Pangaea Logistics Solutions Stock Down 2.1 %

PANL stock opened at $5.25 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. Pangaea Logistics Solutions has a fifty-two week low of $4.82 and a fifty-two week high of $9.50. The stock’s 50 day simple moving average is $5.41 and its 200 day simple moving average is $6.21. The company has a market cap of $341.04 million, a P/E ratio of 11.17 and a beta of 0.84.

Pangaea Logistics Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued 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 7.62%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 85.11%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Pangaea Logistics Solutions during the second quarter worth about $58,000. Mackenzie Financial Corp purchased a new position in shares of Pangaea Logistics Solutions during the 2nd quarter valued at about $110,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Pangaea Logistics Solutions in the third quarter worth approximately $113,000. Hudson Valley Investment Advisors Inc. ADV bought a new position in Pangaea Logistics Solutions during the fourth quarter valued at approximately $123,000. Finally, Algert Global LLC raised its stake in shares of Pangaea Logistics Solutions by 20.1% during the second quarter. Algert Global LLC now owns 18,215 shares of the shipping company’s stock worth $143,000 after acquiring an additional 3,044 shares in the last quarter. Institutional investors 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.