PennantPark Investment Corporation (NASDAQ:PNNT) – Equities research analysts at SunTrust Banks dropped their Q1 2018 earnings per share estimates for PennantPark Investment in a research note issued on Thursday. SunTrust Banks analyst D. Mewhirter now forecasts that the asset manager will post earnings of $0.18 per share for the quarter, down from their prior forecast of $0.20. SunTrust Banks also issued estimates for PennantPark Investment’s FY2018 earnings at $0.72 EPS and FY2019 earnings at $0.72 EPS.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings results on Wednesday, November 29th. The asset manager reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). PennantPark Investment had a return on equity of 8.72% and a net margin of 49.55%. The company had revenue of $27.87 million during the quarter, compared to analyst estimates of $29.19 million. During the same period last year, the company posted $0.21 earnings per share. The company’s revenue was down 13.3% compared to the same quarter last year.

PNNT has been the topic of a number of other reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $8.50 price target on shares of PennantPark Investment in a research note on Thursday, October 26th. Zacks Investment Research downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. BidaskClub downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. ValuEngine raised shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $8.00 price target on shares of PennantPark Investment in a research note on Sunday, November 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $8.50.

PennantPark Investment (PNNT) opened at $7.18 on Monday. PennantPark Investment has a one year low of $6.67 and a one year high of $8.68. The company has a quick ratio of 4.54, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. The firm has a market cap of $510.22, a price-to-earnings ratio of 9.09, a PEG ratio of 4.68 and a beta of 1.28.

A number of institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC increased its position in PennantPark Investment by 0.6% during the second quarter. Private Advisor Group LLC now owns 28,606 shares of the asset manager’s stock worth $212,000 after buying an additional 166 shares during the last quarter. Pinebridge Investments L.P. increased its position in PennantPark Investment by 0.8% during the second quarter. Pinebridge Investments L.P. now owns 22,580 shares of the asset manager’s stock worth $167,000 after buying an additional 169 shares during the last quarter. Arete Wealth Advisors LLC increased its position in PennantPark Investment by 4.1% during the second quarter. Arete Wealth Advisors LLC now owns 52,401 shares of the asset manager’s stock worth $387,000 after buying an additional 2,068 shares during the last quarter. Legal & General Group Plc increased its position in PennantPark Investment by 2.1% during the second quarter. Legal & General Group Plc now owns 178,616 shares of the asset manager’s stock worth $1,323,000 after buying an additional 3,668 shares during the last quarter. Finally, B. Riley Financial Inc. increased its position in PennantPark Investment by 1.1% during the second quarter. B. Riley Financial Inc. now owns 346,270 shares of the asset manager’s stock worth $2,559,000 after buying an additional 3,715 shares during the last quarter. 42.64% of the stock is currently owned by hedge funds and other institutional investors.

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About PennantPark Investment

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.

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

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