Patria Investments (NYSE:PAX) Announces Earnings Results, Misses Expectations By $0.01 EPS

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

Patria Investments Trading Down 1.9 %

NYSE:PAX traded down $0.23 during trading hours on Thursday, reaching $12.10. The company’s stock had a trading volume of 401,286 shares, compared to its average volume of 455,578. 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 firm has a market capitalization of $723.22 million, a price-to-earnings ratio of 22.46, a PEG ratio of 1.50 and a beta of 0.57. The firm has a 50-day simple moving average of $11.33 and a 200-day simple moving average of $12.14. Patria Investments has a 1 year low of $10.63 and a 1 year high of $16.16.

Patria Investments Dividend Announcement

The firm 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 $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 dividend yield of 4.96%. Patria Investments’s dividend payout ratio (DPR) is 111.11%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group dropped their price target on Patria Investments from $16.00 to $14.00 and set a “buy” rating for the company 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.