Brokerages expect that PennantPark Investment Corp. (NASDAQ:PNNT) will post earnings of $0.17 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for PennantPark Investment’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.18. PennantPark Investment posted earnings of $0.18 per share during the same quarter last year, which would indicate a negative year over year growth rate of 5.6%. The firm is expected to issue its next earnings report after the market closes on Thursday, February 6th.
On average, analysts expect that PennantPark Investment will report full year earnings of $0.71 per share for the current fiscal year, with EPS estimates ranging from $0.70 to $0.73. For the next year, analysts anticipate that the firm will post earnings of $0.77 per share, with EPS estimates ranging from $0.73 to $0.78. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Thursday, November 21st. The asset manager reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). PennantPark Investment had a return on equity of 7.51% and a net margin of 14.20%. The company had revenue of $27.93 million during the quarter, compared to the consensus estimate of $28.50 million.
Several research analysts have recently commented on PNNT shares. Zacks Investment Research raised PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, January 1st. BidaskClub raised PennantPark Investment from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. downgraded PennantPark Investment from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $6.50 to $6.00 in a research note on Tuesday, October 29th. Finally, ValuEngine raised PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $7.25.
Shares of NASDAQ PNNT traded down $0.01 during trading on Wednesday, hitting $6.66. The company had a trading volume of 221,094 shares, compared to its average volume of 250,768. The stock has a 50 day simple moving average of $6.57 and a 200 day simple moving average of $6.34. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.29 and a current ratio of 3.29. PennantPark Investment has a 12 month low of $5.84 and a 12 month high of $7.34. The firm has a market capitalization of $447.16 million, a P/E ratio of 27.75 and a beta of 1.12.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 10.81%. The ex-dividend date was Wednesday, December 18th. PennantPark Investment’s dividend payout ratio (DPR) is currently 109.09%.
In other PennantPark Investment news, CEO Arthur H. Penn bought 16,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were bought at an average price of $6.17 per share, with a total value of $98,720.00. Following the purchase, the chief executive officer now owns 193,410 shares of the company’s stock, valued at $1,193,339.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of PNNT. LPL Financial LLC raised its stake in PennantPark Investment by 3.5% during the 2nd quarter. LPL Financial LLC now owns 102,299 shares of the asset manager’s stock valued at $647,000 after purchasing an additional 3,483 shares during the period. Parametric Portfolio Associates LLC raised its stake in PennantPark Investment by 4.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 178,549 shares of the asset manager’s stock valued at $1,128,000 after purchasing an additional 8,166 shares during the period. BlackRock Inc. raised its stake in PennantPark Investment by 8.4% during the 2nd quarter. BlackRock Inc. now owns 352,616 shares of the asset manager’s stock valued at $2,228,000 after purchasing an additional 27,248 shares during the period. D. E. Shaw & Co. Inc. raised its stake in PennantPark Investment by 4.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 187,968 shares of the asset manager’s stock valued at $1,188,000 after purchasing an additional 8,747 shares during the period. Finally, Advisors Capital Management LLC raised its stake in PennantPark Investment by 9.5% during the 2nd quarter. Advisors Capital Management LLC now owns 278,891 shares of the asset manager’s stock valued at $1,763,000 after purchasing an additional 24,092 shares during the period. 38.82% of the stock is currently owned by institutional investors.
About PennantPark Investment
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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