Brokerages predict that PennantPark Investment Corp. (NASDAQ:PNNT) will announce earnings per share (EPS) of $0.20 for the current quarter, Zacks reports. Three analysts have made estimates for PennantPark Investment’s earnings, with estimates ranging from $0.20 to $0.21. PennantPark Investment also reported earnings per share of $0.20 in the same quarter last year. The firm is expected to announce its next earnings report on Wednesday, February 6th.
According to Zacks, analysts expect that PennantPark Investment will report full year earnings of $0.81 per share for the current fiscal year, with EPS estimates ranging from $0.80 to $0.82. For the next year, analysts anticipate that the business will post earnings of $0.85 per share, with EPS estimates ranging from $0.84 to $0.87. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings data on Thursday, November 15th. The asset manager reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. The firm had revenue of $27.62 million for the quarter, compared to analyst estimates of $26.56 million. PennantPark Investment had a return on equity of 8.36% and a net margin of 44.06%.
A number of brokerages have recently weighed in on PNNT. Zacks Investment Research upgraded PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Saturday, November 17th. Keefe, Bruyette & Woods set a $8.00 price objective on PennantPark Investment and gave the stock a “hold” rating in a research report on Thursday, August 9th. Finally, BidaskClub lowered PennantPark Investment from a “buy” rating to a “hold” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. PennantPark Investment presently has an average rating of “Hold” and a consensus target price of $8.08.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC grew its holdings in PennantPark Investment by 976,414.0% during the third quarter. Clearbridge Investments LLC now owns 1,747,960 shares of the asset manager’s stock valued at $13,040,000 after purchasing an additional 1,747,781 shares during the period. Standard Life Aberdeen plc grew its holdings in PennantPark Investment by 40.0% during the third quarter. Standard Life Aberdeen plc now owns 70,000 shares of the asset manager’s stock valued at $523,000 after purchasing an additional 20,000 shares during the period. B. Riley Financial Inc. grew its holdings in PennantPark Investment by 3.5% during the third quarter. B. Riley Financial Inc. now owns 417,534 shares of the asset manager’s stock valued at $3,115,000 after purchasing an additional 14,297 shares during the period. Mackenzie Financial Corp grew its holdings in PennantPark Investment by 73.1% during the third quarter. Mackenzie Financial Corp now owns 208,682 shares of the asset manager’s stock valued at $1,557,000 after purchasing an additional 88,143 shares during the period. Finally, Jane Street Group LLC bought a new stake in PennantPark Investment during the third quarter valued at about $131,000. Institutional investors own 42.18% of the company’s stock.
Shares of PNNT stock opened at $7.33 on Friday. The company has a market capitalization of $506.17 million, a PE ratio of 9.77 and a beta of 1.16. PennantPark Investment has a fifty-two week low of $6.29 and a fifty-two week high of $7.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.04 and a current ratio of 1.04.
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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