Brokerages expect PennantPark Investment Corp. (NASDAQ:PNNT) to announce $0.18 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for PennantPark Investment’s earnings. The lowest EPS estimate is $0.17 and the highest is $0.18. PennantPark Investment reported earnings per share of $0.23 in the same quarter last year, which suggests a negative year-over-year growth rate of 21.7%. The business is scheduled to announce its next quarterly earnings results on Monday, May 14th.
On average, analysts expect that PennantPark Investment will report full-year earnings of $0.75 per share for the current fiscal year, with EPS estimates ranging from $0.72 to $0.77. For the next year, analysts anticipate that the company will report earnings of $0.75 per share, with EPS estimates ranging from $0.71 to $0.79. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last posted its earnings results on Wednesday, February 7th. The asset manager reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ 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 prior year, the firm earned $0.21 EPS. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of PennantPark Investment from a “sell” rating to a “strong sell” rating in a report on Friday. TheStreet raised shares of PennantPark Investment from a “c” rating to a “b-” rating in a report on Thursday, March 29th. Zacks Investment Research raised shares of PennantPark Investment from a “strong sell” rating to a “hold” rating in a report on Saturday, February 3rd. ValuEngine raised shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, March 23rd. Finally, 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 report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $8.30.
PNNT opened at $6.81 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.03 and a current ratio of 3.03. PennantPark Investment has a twelve month low of $6.29 and a twelve month high of $8.17. The stock has a market capitalization of $483.92, a PE ratio of 8.62, a PEG ratio of 4.57 and a beta of 1.13.
The business also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Monday, March 19th were given a dividend of $0.18 per share. The ex-dividend date was Friday, March 16th. This represents a $0.72 annualized dividend and a yield of 10.57%. PennantPark Investment’s dividend payout ratio (DPR) is 91.14%.
In related news, Chairman Arthur H. Penn purchased 10,000 shares of PennantPark Investment stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $6.94 per share, for a total transaction of $69,400.00. Following the transaction, the chairman now directly owns 193,410 shares in the company, valued at $1,342,265.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Pinebridge Investments L.P. lifted its position in PennantPark Investment by 83.5% during the 3rd quarter. Pinebridge Investments L.P. now owns 41,428 shares of the asset manager’s stock worth $311,000 after buying an additional 18,848 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in PennantPark Investment by 28.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 189,156 shares of the asset manager’s stock worth $1,421,000 after buying an additional 41,692 shares in the last quarter. Ares Management LLC lifted its position in PennantPark Investment by 5.7% during the 4th quarter. Ares Management LLC now owns 856,394 shares of the asset manager’s stock worth $5,918,000 after buying an additional 46,000 shares in the last quarter. West Family Investments Inc. lifted its position in PennantPark Investment by 11.6% during the 4th quarter. West Family Investments Inc. now owns 959,457 shares of the asset manager’s stock worth $6,627,000 after buying an additional 100,000 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in PennantPark Investment by 179.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 465,980 shares of the asset manager’s stock worth $3,220,000 after buying an additional 299,280 shares in the last quarter. Institutional investors and hedge funds own 42.90% of the company’s stock.
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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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