Zacks: Brokers expect PennantPark Investment Co. (NASDAQ:PNNT) to post $0.17 a share profit
Equity research analysts expect PennantPark Investment Co. (NASDAQ:PNNT – Get a rating) will show earnings per share of $0.17 for the current fiscal quarter, Zacks reports. Four analysts released earnings estimates for PennantPark Investment, with the lowest EPS estimate of $0.16 and the highest estimate of $0.18. PennantPark Investment reported earnings of $0.13 per share in the same quarter last year, indicating a positive growth rate of 30.8% year over year. The company is expected to announce its next quarterly results on Wednesday, May 4.
On average, analysts expect PennantPark Investment to report full year earnings of $0.71 per share for the current fiscal year, with EPS estimates ranging from $0.69 to $0.74. For next year, analysts expect the company to post earnings of $0.72 per share, with EPS estimates ranging from $0.69 to $0.77. Zacks EPS calculations are an average average based on a survey of sell-side research firms that track PennantPark Investment.
Pennant Park Investment (NASDAQ: PNNT – Get a rating) last released its quarterly earnings data on Wednesday, February 9. The asset manager reported EPS of $0.19 for the quarter, beating analyst consensus estimates of $0.14 by $0.05. PennantPark Investment posted a net margin of 204.22% and a return on equity of 5.81%. In the same quarter a year earlier, the company posted earnings per share of $0.12.
The PNNT has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded PennantPark Investment shares from a “hold” rating to a “buy” rating and set a target price of $8.50 for the company in a Tuesday, February 15 research report. JPMorgan Chase & Co. upgraded shares of PennantPark Investment from an “underweight” rating to a “neutral” rating and set a target price of $7.50 for the company in a research report on Friday, November 19 . Finally, Raymond James raised his price target on PennantPark Investment shares from $8.00 to $9.00 and gave the stock an “outperform” rating in a Friday, Feb. 11 research report. Three equity research analysts gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.13.
Institutional investors and hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in PennantPark Investment in Q3 valued at approximately $32,000. Wolverine Asset Management LLC increased its position in PennantPark Investment shares by 295.3% during the third quarter. Wolverine Asset Management LLC now owns 11,843 shares of the asset manager worth $76,000 after purchasing an additional 8,847 shares during the period. PVG Asset Management Corp acquired a new stake in the shares of PennantPark Investment during the 4th quarter for a value of approximately $87,000. Jump Financial LLC acquired a new stake in shares of PennantPark Investment during Q3 for a value of approximately $87,000. Finally, Fox Run Management LLC acquired a new equity stake in PennantPark Investment during Q4 worth approximately $94,000. Hedge funds and other institutional investors own 31.07% of the company’s shares.
Shares of PennantPark Stock Investment traded at $0.14 during midday trading on Friday, reaching $7.64. 245,656 shares were traded, against an average volume of 340,425. The company has a market capitalization of $512.26 million, a price-earnings ratio of 3.07, a growth price-earnings ratio of 0.33 and a beta of 1.89. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt ratio of 0.92. The company has a 50-day simple moving average of $7.09 and a 200-day simple moving average of $6.85. PennantPark Investment has a fifty-two week low of $5.39 and a fifty-two week high of $7.83.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 1. Shareholders of record on Thursday, March 17 will receive a dividend of $0.14. This represents an annualized dividend of $0.56 and a yield of 7.33%. The ex-dividend date is Wednesday, March 16. This is a boost from PennantPark Investment’s previous quarterly dividend of $0.12. PennantPark Investment’s dividend payout ratio (DPR) is currently 19.28%.
PennantPark Investment Company Profile (Get a rating)
PennantPark Investment Corporation is a publicly traded business development company specializing in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans and equity investments. The Company invests in equity and debt transactions through preferred stock, common stock, warrants, options, subordinated loans, mezzanine loans and senior secured loans.
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