Patria Investments (NYSE:PAX) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

by · The Cerbat Gem

Patria Investments (NYSE:PAX – Get Free Report) released its earnings results on Tuesday. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01), Zacks reports. The business had revenue of $78.10 million for the quarter, compared to analysts’ expectations of $76.55 million. Patria Investments had a return on equity of 34.20% and a net margin of 26.01%. During the same quarter last year, the company posted $0.23 earnings per share.

Patria Investments Trading Down 1.6 %

Shares of PAX traded down $0.20 during trading hours on Thursday, hitting $12.13. The stock had a trading volume of 237,375 shares, compared to its average volume of 454,819. Patria Investments has a 12-month low of $10.63 and a 12-month high of $16.16. The firm has a market cap of $725.01 million, a P/E ratio of 22.74, a P/E/G ratio of 1.50 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 0.99. The company’s fifty day simple moving average is $11.33 and its 200 day simple moving average is $12.14.

Patria Investments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.60 annualized dividend and a dividend yield of 4.95%. Patria Investments’s dividend payout ratio is presently 111.11%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group dropped their price objective on shares of Patria Investments from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd.

Check Out Our Latest Stock Analysis on PAX

Patria Investments Company Profile

(Get Free Report)

Patria Investments Limited operates as a private market investment firm focused on investing in Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds.

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