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

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

Patria Investments Price Performance

Shares of PAX stock traded down $0.26 during mid-day trading on Thursday, hitting $12.07. 394,175 shares of the stock were exchanged, compared to its average volume of 455,105. Patria Investments has a 52-week low of $10.63 and a 52-week high of $16.16. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.15. The company has a market cap of $721.42 million, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.50 and a beta of 0.57. The firm has a fifty day moving average of $11.33 and a 200 day moving average of $12.14.

Patria Investments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.60 dividend on an annualized basis and a yield of 4.97%. Patria Investments’s payout ratio is 111.11%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered their target price on Patria Investments from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd.

About Patria Investments

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.