Wall Street analysts expect PennantPark Investment Corporation (NASDAQ:PNNT) to announce earnings of $0.19 per share for the current quarter, Zacks reports. Five analysts have issued estimates for PennantPark Investment Corporation’s earnings, with estimates ranging from $0.17 to $0.21. PennantPark Investment Corporation posted earnings per share of $0.21 during the same quarter last year, which would indicate a negative year-over-year growth rate of 9.5%. The business is expected to report its next earnings results on Monday, November 20th.

On average, analysts expect that PennantPark Investment Corporation will report full year earnings of $0.83 per share for the current fiscal year, with EPS estimates ranging from $0.79 to $0.86. For the next financial year, analysts forecast that the firm will report earnings of $0.77 per share, with EPS estimates ranging from $0.70 to $0.81. Zacks’ EPS averages are an average based on a survey of research analysts that follow PennantPark Investment Corporation.

PennantPark Investment Corporation (NASDAQ:PNNT) last posted its earnings results on Monday, August 7th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). The company had revenue of $31.10 million for the quarter, compared to the consensus estimate of $31.09 million. PennantPark Investment Corporation had a net margin of 53.92% and a return on equity of 9.11%. PennantPark Investment Corporation’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 EPS.

A number of equities research analysts recently commented on the company. Compass Point assumed coverage on PennantPark Investment Corporation in a report on Thursday, July 13th. They set a “buy” rating and a $8.50 target price for the company. Zacks Investment Research downgraded PennantPark Investment Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $8.50 target price on shares of PennantPark Investment Corporation in a report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $8.00 target price on shares of PennantPark Investment Corporation in a report on Friday, July 14th. Finally, BidaskClub downgraded PennantPark Investment Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $8.14.

In other PennantPark Investment Corporation news, Chairman Arthur H. Penn acquired 32,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average cost of $7.72 per share, for a total transaction of $247,040.00. Following the completion of the transaction, the chairman now directly owns 183,400 shares of the company’s stock, valued at $1,415,848. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Arthur H. Penn acquired 28,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average price of $7.62 per share, with a total value of $213,360.00. Following the completion of the transaction, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,473,784.20. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. LSV Asset Management increased its position in shares of PennantPark Investment Corporation by 36.9% during the second quarter. LSV Asset Management now owns 2,741,127 shares of the asset manager’s stock worth $20,256,000 after purchasing an additional 738,141 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of PennantPark Investment Corporation by 5.7% during the first quarter. JPMorgan Chase & Co. now owns 1,900,325 shares of the asset manager’s stock worth $15,469,000 after purchasing an additional 101,690 shares in the last quarter. UBS Group AG increased its position in shares of PennantPark Investment Corporation by 28.4% during the first quarter. UBS Group AG now owns 1,520,945 shares of the asset manager’s stock worth $12,381,000 after purchasing an additional 336,001 shares in the last quarter. Confluence Investment Management LLC increased its position in shares of PennantPark Investment Corporation by 0.5% during the second quarter. Confluence Investment Management LLC now owns 929,249 shares of the asset manager’s stock worth $6,867,000 after purchasing an additional 4,599 shares in the last quarter. Finally, West Family Investments Inc. increased its position in shares of PennantPark Investment Corporation by 8.3% during the second quarter. West Family Investments Inc. now owns 810,056 shares of the asset manager’s stock worth $5,779,000 after purchasing an additional 62,000 shares in the last quarter. Hedge funds and other institutional investors own 42.72% of the company’s stock.

PennantPark Investment Corporation (PNNT) traded down 0.26% during trading on Thursday, reaching $7.65. 168,803 shares of the company’s stock traded hands. PennantPark Investment Corporation has a one year low of $6.86 and a one year high of $8.68. The company has a 50 day moving average of $7.56 and a 200 day moving average of $7.63.

The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Wednesday, September 20th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 9.41%. The ex-dividend date was Tuesday, September 19th. PennantPark Investment Corporation’s payout ratio is presently 74.23%.

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About PennantPark Investment Corporation

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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Earnings History and Estimates for PennantPark Investment Corporation (NASDAQ:PNNT)

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