Brokerages expect PennantPark Investment Corp. (NASDAQ:PNNT) to report $0.15 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for PennantPark Investment’s earnings, with the highest EPS estimate coming in at $0.17 and the lowest estimate coming in at $0.14. PennantPark Investment reported earnings of $0.17 per share during the same quarter last year, which indicates a negative year over year growth rate of 11.8%. The business is scheduled to report its next quarterly earnings report on Wednesday, August 5th.
According to Zacks, analysts expect that PennantPark Investment will report full-year earnings of $0.61 per share for the current fiscal year, with EPS estimates ranging from $0.58 to $0.67. For the next fiscal year, analysts forecast that the business will report earnings of $0.55 per share, with EPS estimates ranging from $0.50 to $0.59. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last announced its earnings results on Monday, May 11th. The asset manager reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). PennantPark Investment had a positive return on equity of 7.35% and a negative net margin of 24.82%. The firm had revenue of $27.54 million for the quarter, compared to the consensus estimate of $27.62 million.
A number of research analysts have recently issued reports on PNNT shares. TheStreet cut shares of PennantPark Investment from a “c” rating to a “d+” rating in a report on Thursday, May 28th. ValuEngine lowered shares of PennantPark Investment from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 2nd. BidaskClub lowered shares of PennantPark Investment from a “hold” rating to a “sell” rating in a report on Friday, March 13th. Finally, Zacks Investment Research lowered shares of PennantPark Investment from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Three equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. PennantPark Investment presently has an average rating of “Sell” and an average price target of $4.63.
Hedge funds have recently added to or reduced their stakes in the business. New England Private Wealth Advisors LLC purchased a new position in PennantPark Investment in the 1st quarter worth approximately $26,000. Lido Advisors LLC purchased a new position in PennantPark Investment in the 1st quarter worth approximately $27,000. XTX Markets LLC purchased a new stake in shares of PennantPark Investment in the 1st quarter valued at $31,000. RHS Financial LLC purchased a new stake in shares of PennantPark Investment in the 1st quarter valued at $46,000. Finally, Wealthspire Advisors L.P. purchased a new stake in shares of PennantPark Investment in the 4th quarter valued at $85,000. 38.12% of the stock is owned by institutional investors and hedge funds.
PNNT traded up $0.14 during midday trading on Wednesday, hitting $3.44. The company had a trading volume of 19,037 shares, compared to its average volume of 524,680. PennantPark Investment has a 52 week low of $1.76 and a 52 week high of $6.86. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $221.23 million, a price-to-earnings ratio of -8.40 and a beta of 1.65. The stock’s 50 day moving average price is $3.33 and its 200 day moving average price is $4.72.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.48 dividend on an annualized basis and a yield of 13.95%. PennantPark Investment’s dividend payout ratio is presently 72.73%.
PennantPark Investment Company Profile
PennantPark Investment Corporation specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.
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