Equities analysts predict that PennantPark Investment Co. (NASDAQ:PNNT) will report $26.28 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for PennantPark Investment’s earnings, with the highest sales estimate coming in at $26.70 million and the lowest estimate coming in at $25.81 million. PennantPark Investment posted sales of $31.08 million during the same quarter last year, which suggests a negative year over year growth rate of 15.4%. The business is expected to report its next quarterly earnings results on Monday, August 6th.
According to Zacks, analysts expect that PennantPark Investment will report full-year sales of $109.05 million for the current fiscal year, with estimates ranging from $108.75 million to $109.61 million. For the next year, analysts expect that the firm will post sales of $110.64 million per share, with estimates ranging from $103.69 million to $116.88 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings results on Wednesday, May 9th. The asset manager reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business had revenue of $27.23 million for the quarter, compared to analysts’ expectations of $27.23 million. PennantPark Investment had a net margin of 38.78% and a return on equity of 8.17%.
Several research analysts have recently weighed in on PNNT shares. BidaskClub cut shares of PennantPark Investment from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 13th. Zacks Investment Research cut shares of PennantPark Investment from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine cut shares of PennantPark Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Ladenburg Thalmann upgraded shares of PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $8.21.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PNNT. Muzinich & Co. Inc. lifted its stake in shares of PennantPark Investment by 31.2% during the 1st quarter. Muzinich & Co. Inc. now owns 2,355,718 shares of the asset manager’s stock valued at $15,736,000 after buying an additional 560,038 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in shares of PennantPark Investment by 42.5% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,617,097 shares of the asset manager’s stock valued at $11,174,000 after buying an additional 482,214 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of PennantPark Investment by 179.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 465,980 shares of the asset manager’s stock valued at $3,220,000 after buying an additional 299,280 shares in the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of PennantPark Investment by 13.3% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,338,409 shares of the asset manager’s stock valued at $16,158,000 after buying an additional 274,029 shares in the last quarter. Finally, Clearbridge LLC lifted its stake in shares of PennantPark Investment by 26.6% during the 4th quarter. Clearbridge LLC now owns 1,201,339 shares of the asset manager’s stock valued at $8,301,000 after buying an additional 252,657 shares in the last quarter. Institutional investors own 43.53% of the company’s stock.
Shares of PennantPark Investment stock traded up $0.11 on Friday, hitting $7.16. 203,824 shares of the company’s stock were exchanged, compared to its average volume of 319,822. The stock has a market capitalization of $501.69 million, a PE ratio of 9.06, a P/E/G ratio of 4.75 and a beta of 1.12. PennantPark Investment has a 1 year low of $7.06 and a 1 year high of $7.13. The company has a debt-to-equity ratio of 0.76, a current ratio of 6.66 and a quick ratio of 6.66.
PennantPark Investment Company Profile
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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