Brokerages expect PennantPark Investment Corp. (NASDAQ:PNNT) to post $0.19 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for PennantPark Investment’s earnings, with the lowest EPS estimate coming in at $0.18 and the highest estimate coming in at $0.19. PennantPark Investment posted earnings per share of $0.17 during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.8%. The business is expected to issue its next quarterly earnings results after the market closes on Thursday, November 15th.
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 $0.73 to $0.75. For the next fiscal year, analysts expect that the business will post earnings of $0.79 per share, with EPS estimates ranging from $0.75 to $0.83. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last released its earnings results on Wednesday, August 8th. The asset manager reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). PennantPark Investment had a return on equity of 8.12% and a net margin of 39.31%. The firm had revenue of $24.76 million for the quarter, compared to the consensus estimate of $26.13 million.
A number of research firms have commented on PNNT. Zacks Investment Research cut shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Thursday. Keefe, Bruyette & Woods set a $8.00 target price on shares of PennantPark Investment and gave the stock a “hold” rating in a research note on Thursday, August 9th. Finally, BidaskClub upgraded shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $8.06.
Institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of PennantPark Investment during the first quarter valued at approximately $118,000. Great West Life Assurance Co. Can bought a new stake in shares of PennantPark Investment during the first quarter valued at approximately $126,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of PennantPark Investment during the second quarter valued at approximately $158,000. California Public Employees Retirement System bought a new stake in shares of PennantPark Investment during the second quarter valued at approximately $165,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of PennantPark Investment during the second quarter valued at approximately $182,000. Hedge funds and other institutional investors own 42.59% of the company’s stock.
NASDAQ PNNT traded down $0.03 on Friday, reaching $7.20. 337,374 shares of the stock were exchanged, compared to its average volume of 269,451. PennantPark Investment has a one year low of $6.29 and a one year high of $7.84. The stock has a market cap of $522.11 million, a price-to-earnings ratio of 9.11 and a beta of 1.19. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.73.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Monday, September 17th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 10.00%. The ex-dividend date was Friday, September 14th. PennantPark Investment’s payout ratio is currently 91.14%.
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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