Wall Street brokerages expect that PennantPark Investment Corp. (NASDAQ:PNNT) will announce $27.23 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for PennantPark Investment’s earnings, with the highest sales estimate coming in at $27.76 million and the lowest estimate coming in at $26.40 million. PennantPark Investment posted sales of $33.72 million in the same quarter last year, which suggests a negative year over year growth rate of 19.2%. The firm is scheduled to announce its next earnings report on Monday, May 14th.
On average, analysts expect that PennantPark Investment will report full year sales of $27.23 million for the current financial year, with estimates ranging from $109.00 million to $114.09 million. For the next fiscal year, analysts expect that the firm will report sales of $113.39 million per share, with estimates ranging from $106.00 million to $123.44 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last announced its earnings results on Wednesday, February 7th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. PennantPark Investment had a net margin of 41.17% and a return on equity of 8.58%. The business had revenue of $28.67 million for the quarter, compared to analyst estimates of $28.12 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. PennantPark Investment’s revenue was down 10.0% compared to the same quarter last year.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of PennantPark Investment from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 3rd. BidaskClub raised shares of PennantPark Investment from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 10th. Ladenburg Thalmann Financial Services raised shares of PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Friday, February 9th. ValuEngine downgraded shares of PennantPark Investment from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $8.50 price target on shares of PennantPark Investment in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. PennantPark Investment currently has an average rating of “Hold” and a consensus target price of $8.30.
In other PennantPark Investment news, CFO Aviv Efrat purchased 10,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were purchased at an average price of $7.14 per share, for a total transaction of $71,400.00. Following the completion of the purchase, the chief financial officer now directly owns 106,102 shares of the company’s stock, valued at $757,568.28. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Arthur H. Penn purchased 14,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were acquired at an average price of $7.14 per share, for a total transaction of $99,960.00. Following the purchase, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,380,947.40. The disclosure for this purchase can be found here. Insiders have acquired 58,000 shares of company stock worth $413,680 in the last quarter. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Eqis Capital Management Inc. acquired a new stake in shares of PennantPark Investment in the 4th quarter valued at $143,000. Koch Industries Inc. acquired a new stake in shares of PennantPark Investment in the 4th quarter valued at $184,000. Global X MANAGEMENT CO LLC boosted its stake in shares of PennantPark Investment by 49.0% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 24,829 shares of the asset manager’s stock valued at $186,000 after purchasing an additional 8,165 shares in the last quarter. Dean Capital Investments Management LLC acquired a new stake in shares of PennantPark Investment in the 4th quarter valued at $193,000. Finally, Stevens Capital Management LP acquired a new stake in shares of PennantPark Investment in the 3rd quarter valued at $199,000. Hedge funds and other institutional investors own 43.74% of the company’s stock.
Shares of PennantPark Investment (NASDAQ:PNNT) traded down $0.05 during mid-day trading on Friday, reaching $7.07. 296,954 shares of the company were exchanged, compared to its average volume of 367,492. PennantPark Investment has a fifty-two week low of $6.29 and a fifty-two week high of $8.67. The company has a market capitalization of $502.40, a price-to-earnings ratio of 10.10, a P/E/G ratio of 4.80 and a beta of 1.22. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.03 and a quick ratio of 3.03.
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About PennantPark Investment
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
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