PennantPark Investment Corp. (PNNT) Expected to Announce Earnings of $0.18 Per Share

Equities analysts predict that PennantPark Investment Corp. (NASDAQ:PNNT) will announce earnings per share of $0.18 for the current quarter, according to Zacks. Three analysts have issued estimates for PennantPark Investment’s earnings, with the lowest EPS estimate coming in at $0.12 and the highest estimate coming in at $0.20. PennantPark Investment reported earnings of $0.19 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.3%. The firm is expected to report its next earnings results on Wednesday, May 8th.

On average, analysts expect that PennantPark Investment will report full-year earnings of $0.76 per share for the current fiscal year, with EPS estimates ranging from $0.69 to $0.80. For the next fiscal year, analysts expect that the firm will report earnings of $0.84 per share, with EPS estimates ranging from $0.81 to $0.88. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover PennantPark Investment.

PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings data on Thursday, February 7th. The asset manager reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). The firm had revenue of $27.38 million during the quarter, compared to analyst estimates of $28.38 million. PennantPark Investment had a net margin of 39.44% and a return on equity of 8.21%.

Several analysts have recently weighed in on the company. BidaskClub upgraded PennantPark Investment from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. lowered PennantPark Investment from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.50 to $7.00 in a report on Wednesday, January 16th. Finally, Zacks Investment Research lowered PennantPark Investment from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $7.67.

Institutional investors have recently made changes to their positions in the company. Quad Cities Investment Group LLC lifted its holdings in shares of PennantPark Investment by 3,000.0% during the fourth quarter. Quad Cities Investment Group LLC now owns 6,200 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 6,000 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of PennantPark Investment during the fourth quarter valued at $45,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of PennantPark Investment during the fourth quarter valued at $71,000. Two Sigma Securities LLC purchased a new stake in shares of PennantPark Investment during the fourth quarter valued at $71,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of PennantPark Investment during the fourth quarter valued at $86,000. Institutional investors and hedge funds own 44.19% of the company’s stock.

Shares of PennantPark Investment stock traded down $0.09 during trading on Monday, hitting $6.91. The stock had a trading volume of 252,344 shares, compared to its average volume of 299,059. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.91. The firm has a market cap of $476.19 million, a price-to-earnings ratio of 9.21 and a beta of 1.22. PennantPark Investment has a fifty-two week low of $6.21 and a fifty-two week high of $7.84.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Wednesday, March 20th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, March 19th. This represents a $0.72 annualized dividend and a dividend yield of 10.42%. PennantPark Investment’s dividend payout ratio (DPR) is 96.00%.

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.

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