Profile
Sector:
IndustrialsIndustry:
Marine ShippingCountry:
United StatesIPO:
19 December 2013Website:
http://www.pangaeals.comNext earnings report:
08 November 2024Last dividends:
30 August 2024Next dividends:
N/APrice
after hours | Fri, 01 Nov 2024 22:35:00 GMTAnalysts recommendations
Institutional Ownership
PANL Latest News
Pangaea Logistics Solutions ("Pangaea") has agreed to acquire 15 handysize drybulk carriers for approximately $295 million including related debt in an all-stock transaction. The transaction will increase the company's owned fleet by almost 60% to 41 vessels and reduce loan-to-value to slightly below 40%. The company's shares will be valued at $10.20 in the transaction, a 55% premium to current market prices.
Pangaea Logistics Solutions reported better-than-expected Q2/2024 results, with both the company's top- and bottom-line results coming in ahead of consensus estimates. That said, adjusted EBITDA margin of 12.8% dropped to its lowest level in recent years as Pangaea's chartered-in fleet was running at a loss. With preliminary Q3 daily time charter equivalent rates up and charter-in rates down by more than 10% sequentially, Pangaea should report vastly improved third-quarter results.
Pangaea Logistics (PANL) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to earnings of $0.10 per share a year ago.
NEWPORT, RI, Aug. 8, 2024 /PRNewswire/ -- Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (Nasdaq: PANL), a global provider of comprehensive maritime logistics solutions, announced today its results for the three months ended June 30, 2024.
NEWPORT, R.I. , July 31, 2024 /PRNewswire/ -- Pangaea Logistics Solutions (Nasdaq: PANL, or "the Company"), a global provider of comprehensive maritime logistics solutions, today announced that it will issue second quarter 2024 results after the market closes on Thursday, August 8, 2024.
Pangea Logistics reported disappointing FY23 results, causing a sell-off, but the panic was an overreaction, presenting a buying opportunity. The company has $99 million cash, $68 million long-term debt, and $264 million total debt (including $143 million lease agreements). PANL offers attractive dividends with a 5.9% TTM yield and a payout ratio of 57.9%.
Supply-chain disruptions are likely to have hurt Pangaea Logistics' (PANL) performance in Q4.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here is how Pangaea Logistics (PANL) and ZIM Integrated Shipping Services (ZIM) have performed compared to their sector so far this year.
Does Pangaea Logistics (PANL) have what it takes to be a top stock pick for momentum investors? Let's find out.
- 1(current)
What type of business is 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. The company's ocean logistics services comprise cargo loading, cargo discharge, vessel chartering, voyage planning, and technical vessel management. It owns and operates a fleet of vessels. The company was founded in 1996 and is headquartered in Newport, Rhode Island.
What sector is Pangaea Logistics Solutions in?
Pangaea Logistics Solutions is in the Industrials sector
What industry is Pangaea Logistics Solutions in?
Pangaea Logistics Solutions is in the Marine Shipping industry
What country is Pangaea Logistics Solutions from?
Pangaea Logistics Solutions is headquartered in United States
When did Pangaea Logistics Solutions go public?
Pangaea Logistics Solutions initial public offering (IPO) was on 19 December 2013
What is Pangaea Logistics Solutions website?
https://www.pangaeals.com
Is Pangaea Logistics Solutions in the S&P 500?
No, Pangaea Logistics Solutions is not included in the S&P 500 index
Is Pangaea Logistics Solutions in the NASDAQ 100?
No, Pangaea Logistics Solutions is not included in the NASDAQ 100 index
Is Pangaea Logistics Solutions in the Dow Jones?
No, Pangaea Logistics Solutions is not included in the Dow Jones index
When was Pangaea Logistics Solutions the previous earnings report?
No data
When does Pangaea Logistics Solutions earnings report?
The next expected earnings date for Pangaea Logistics Solutions is 08 November 2024