$0.18 Earnings Per Share Expected for PennantPark Investment Corp. (PNNT) This Quarter

Wall Street analysts forecast that PennantPark Investment Corp. (NASDAQ:PNNT) will announce $0.18 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for PennantPark Investment’s earnings, with estimates ranging from $0.17 to $0.18. PennantPark Investment reported earnings per share of $0.23 during the same quarter last year, which indicates a negative year-over-year growth rate of 21.7%. The business is scheduled to issue its next earnings report on Monday, May 14th.

According to Zacks, analysts expect that PennantPark Investment will report full year earnings of $0.74 per share for the current financial year, with EPS estimates ranging from $0.71 to $0.77. For the next fiscal year, analysts anticipate that the business will post earnings of $0.75 per share, with EPS estimates ranging from $0.71 to $0.79. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for PennantPark Investment.

PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. PennantPark Investment had a net margin of 41.17% and a return on equity of 8.58%. The firm had revenue of $28.67 million for the quarter, compared to the consensus estimate of $28.12 million. During the same period in the prior year, the firm posted $0.21 earnings per share. The company’s revenue for the quarter was down 10.0% on a year-over-year basis.

A number of brokerages recently weighed in on PNNT. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $8.50 target price on shares of PennantPark Investment in a research note on Thursday, October 26th. Jefferies Group reaffirmed a “hold” rating and issued a $8.00 target price on shares of PennantPark Investment in a research note on Sunday, November 5th. Zacks Investment Research downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. ValuEngine raised shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Finally, TheStreet downgraded shares of PennantPark Investment from a “b-” rating to a “c” rating in a research note on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $8.30.

In other PennantPark Investment news, CFO Aviv Efrat purchased 10,000 shares of PennantPark Investment stock in a transaction on Monday, December 4th. The shares were acquired at an average cost of $7.14 per share, for a total transaction of $71,400.00. Following the completion of the transaction, the chief financial officer now directly owns 106,102 shares of the company’s stock, valued at $757,568.28. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Arthur H. Penn purchased 12,000 shares of PennantPark Investment stock in a transaction on Friday, December 1st. The shares were acquired at an average price of $7.10 per share, for a total transaction of $85,200.00. Following the completion of the transaction, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,373,211. The disclosure for this purchase can be found here. Insiders have acquired 58,000 shares of company stock worth $413,680 over the last quarter. Company insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Eqis Capital Management Inc. bought a new position in PennantPark Investment during the fourth quarter valued at approximately $143,000. Koch Industries Inc. bought a new position in PennantPark Investment during the fourth quarter valued at approximately $184,000. Global X MANAGEMENT CO LLC grew its position in PennantPark Investment by 49.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 24,829 shares of the asset manager’s stock valued at $186,000 after acquiring an additional 8,165 shares during the last quarter. Dean Capital Investments Management LLC bought a new position in PennantPark Investment during the fourth quarter valued at approximately $193,000. Finally, Stevens Capital Management LP bought a new position in PennantPark Investment during the third quarter valued at approximately $199,000. Institutional investors and hedge funds own 42.80% of the company’s stock.

Shares of PennantPark Investment (PNNT) opened at $7.01 on Thursday. The firm has a market cap of $503.11, a P/E ratio of 10.01, a P/E/G ratio of 4.77 and a beta of 1.22. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.03 and a quick ratio of 3.03. PennantPark Investment has a one year low of $6.29 and a one year high of $8.67.

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PennantPark Investment Company Profile

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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