Pangaea Logistics Solutions Ltd reports results for the quarter ended in June - Earnings Summary

Pangaea Logistics Solutions

08/08/2024 23:43

* Pangaea Logistics Solutions Ltd  PANL.OQ  reported
quarterly
adjusted earnings of 8 cents​​ per share for the quarter ended
in June, higher than the same quarter last year, when the
company reported EPS of 6 cents.  The mean expectation of
three analysts for the quarter was for earnings of 15 cents per
share. Wall Street expected results to range from 1 cents to 35
cents per share.
    * Revenue rose 11.4% to $131.50 million from a year ago;
analysts
expected $102.58 million. 
    * Pangaea Logistics Solutions Ltd's reported EPS for the
quarter
was 8 cents​.
    * The company reported quarterly net income of $3.68
million.
    * Pangaea Logistics Solutions Ltd shares had fallen by 17.1%
this
quarter and lost 21.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 37.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the marine
freight &
logistics peer group is also "buy"

Wall Street's median 12-month price target for Pangaea Logistics
Solutions Ltd is $10.25 
This summary was machine generated from LSEG data August 8 at
10:43 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.15           0.08           Missed
 Mar. 31 2024      0.14           0.25           Beat
 Dec. 31 2023      0.34           0.03           Missed
 Sep. 30 2023      0.15           0.42           Beat