Wall Street brokerages forecast that PennantPark Investment Co. (NASDAQ:PNNT) will post $19.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for PennantPark Investment’s earnings, with estimates ranging from $18.70 million to $20.25 million. PennantPark Investment posted sales of $27.54 million in the same quarter last year, which would indicate a negative year over year growth rate of 29.2%. The company is scheduled to report its next earnings results on Monday, May 10th.
According to Zacks, analysts expect that PennantPark Investment will report full year sales of $80.28 million for the current year, with estimates ranging from $77.77 million to $84.56 million. For the next year, analysts expect that the firm will report sales of $92.99 million, with estimates ranging from $84.36 million to $99.70 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings data on Monday, February 8th. The asset manager reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). PennantPark Investment had a negative net margin of 15.93% and a positive return on equity of 7.56%. The business had revenue of $18.73 million during the quarter, compared to analysts’ expectations of $19.78 million.
A number of equities research analysts have recently issued reports on PNNT shares. TheStreet upgraded shares of PennantPark Investment from a “c-” rating to a “b-” rating in a research report on Friday, February 12th. JMP Securities assumed coverage on PennantPark Investment in a research report on Tuesday, March 9th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. PennantPark Investment has a consensus rating of “Hold” and an average price target of $4.42.
Shares of PNNT stock traded up $0.02 during midday trading on Monday, reaching $6.03. 2,000 shares of the company traded hands, compared to its average volume of 548,971. The firm’s 50 day simple moving average is $5.73 and its two-hundred day simple moving average is $4.57. PennantPark Investment has a 1-year low of $2.64 and a 1-year high of $6.22. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market cap of $404.28 million, a PE ratio of -25.04 and a beta of 1.98.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Thursday, March 18th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 17th. This represents a $0.48 annualized dividend and a dividend yield of 7.96%. PennantPark Investment’s dividend payout ratio is currently 78.69%.
Several institutional investors have recently modified their holdings of PNNT. Virtu Financial LLC acquired a new position in shares of PennantPark Investment during the 3rd quarter worth approximately $37,000. Two Sigma Securities LLC acquired a new position in PennantPark Investment in the 3rd quarter valued at $39,000. Sheaff Brock Investment Advisors LLC acquired a new position in PennantPark Investment in the 4th quarter valued at $52,000. Schonfeld Strategic Advisors LLC acquired a new position in PennantPark Investment in the 3rd quarter valued at $60,000. Finally, Quad Cities Investment Group LLC acquired a new position in PennantPark Investment in the 4th quarter valued at $64,000. Hedge funds and other institutional investors own 29.94% of the company’s stock.
About PennantPark Investment
PennantPark Investment Corporation is a business development company. It 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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