Patria Investments (NYSE:PAX) Posts 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 analysts’ consensus estimates of $0.24 by ($0.01), Zacks reports. The firm had revenue of $78.10 million for the quarter, compared to analyst estimates 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 business earned $0.23 EPS.

Patria Investments Stock Down 2.3 %

Patria Investments stock opened at $12.05 on Friday. The company’s 50 day simple moving average is $11.34 and its 200 day simple moving average is $12.14. Patria Investments has a fifty-two week low of $10.63 and a fifty-two week high of $16.16. The firm has a market capitalization of $720.23 million, a price-to-earnings ratio of 22.31, a PEG ratio of 1.50 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.99.

Patria Investments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.98%. The ex-dividend date is Monday, November 18th. Patria Investments’s payout ratio is 111.11%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group decreased their price objective on shares of Patria Investments from $16.00 to $14.00 and set a “buy” rating on the stock in a report 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.