PennantPark Investment (PNNT) Set to Announce Quarterly Earnings on Wednesday

PennantPark Investment (NASDAQ:PNNT) is set to issue its quarterly earnings data after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of $0.19 per share for the quarter.

PennantPark Investment (NASDAQ:PNNT) last posted its earnings results on Thursday, May 9th. The asset manager reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01). PennantPark Investment had a return on equity of 7.94% and a net margin of 28.97%. The business had revenue of $28.69 million for the quarter, compared to analysts’ expectations of $28.89 million. On average, analysts expect PennantPark Investment to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

PennantPark Investment stock opened at $6.44 on Tuesday. PennantPark Investment has a 52 week low of $6.21 and a 52 week high of $7.84. The business’s 50-day simple moving average is $6.43. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market capitalization of $431.77 million, a PE ratio of 8.59 and a beta of 1.14.

In other news, Chairman Arthur H. Penn acquired 16,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $6.52 per share, for a total transaction of $104,320.00. Following the acquisition, the chairman now owns 193,410 shares of the company’s stock, valued at $1,261,033.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Arthur H. Penn acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was purchased at an average price of $6.58 per share, with a total value of $98,700.00. Following the completion of the acquisition, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,272,637.80. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by corporate insiders.

PNNT has been the subject of several recent analyst reports. Compass Point cut PennantPark Investment from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $8.50 to $7.00 in a research report on Friday, May 3rd. LADENBURG THALM/SH SH cut PennantPark Investment from a “buy” rating to a “neutral” rating in a report on Monday, May 13th. ValuEngine cut PennantPark Investment from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. Zacks Investment Research cut PennantPark Investment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Raymond James began coverage on PennantPark Investment in a report on Monday, April 29th. They issued an “outperform” rating and a $8.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. PennantPark Investment has an average rating of “Hold” and a consensus price target of $7.60.

About PennantPark Investment

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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Earnings History for PennantPark Investment (NASDAQ:PNNT)

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