Wall Street analysts forecast that PennantPark Investment Corp. (NASDAQ:PNNT) will post earnings of $0.19 per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for PennantPark Investment’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.19. PennantPark Investment posted earnings of $0.17 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.8%. The business is expected to issue its next quarterly earnings report after the market closes on Thursday, November 15th.
According to Zacks, analysts expect that PennantPark Investment will report full-year earnings of $0.74 per share for the current year, with EPS estimates ranging from $0.73 to $0.75. For the next financial year, analysts expect that the business will report earnings of $0.79 per share, with EPS estimates ranging from $0.75 to $0.83. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings results on Wednesday, August 8th. The asset manager reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The business had revenue of $24.76 million for the quarter, compared to analyst estimates of $26.13 million. PennantPark Investment had a return on equity of 8.12% and a net margin of 39.31%.
Several analysts have recently commented on the stock. Zacks Investment Research cut shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. Keefe, Bruyette & Woods set a $8.00 target price on shares of PennantPark Investment and gave the stock a “hold” rating in a research note on Thursday, August 9th. Finally, BidaskClub cut shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. PennantPark Investment currently has an average rating of “Hold” and a consensus target price of $8.08.
Hedge funds have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC acquired a new stake in shares of PennantPark Investment in the 2nd quarter worth $2,026,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of PennantPark Investment in the 1st quarter worth $118,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of PennantPark Investment in the 2nd quarter worth $158,000. Private Advisor Group LLC acquired a new stake in shares of PennantPark Investment in the 3rd quarter worth $175,000. Finally, California Public Employees Retirement System acquired a new stake in shares of PennantPark Investment in the 2nd quarter worth $165,000. Institutional investors own 42.57% of the company’s stock.
Shares of NASDAQ:PNNT opened at $7.18 on Wednesday. The firm has a market cap of $492.02 million, a P/E ratio of 9.09 and a beta of 1.16. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.73. PennantPark Investment has a 1-year low of $6.29 and a 1-year high of $7.84.
PennantPark Investment Company Profile
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.
Featured Article: Buyback For Investors Defined
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PennantPark Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennantPark Investment and related companies with MarketBeat.com's FREE daily email newsletter.