Wall Street analysts expect PennantPark Investment Corp. (NASDAQ:PNNT) to announce sales of $28.76 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for PennantPark Investment’s earnings. The lowest sales estimate is $27.34 million and the highest is $29.71 million. PennantPark Investment posted sales of $27.23 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.6%. The business is scheduled to issue its next earnings results on Wednesday, May 8th.
On average, analysts expect that PennantPark Investment will report full-year sales of $115.62 million for the current year, with estimates ranging from $109.49 million to $120.18 million. For the next year, analysts anticipate that the company will post sales of $123.11 million, with estimates ranging from $105.84 million to $136.79 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for PennantPark Investment.
Get PennantPark Investment alerts:PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Thursday, February 7th. The asset manager reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $27.38 million during the quarter, compared to analyst estimates of $28.38 million. PennantPark Investment had a return on equity of 8.21% and a net margin of 39.44%.
Several equities research analysts recently weighed in on PNNT shares. Zacks Investment Research downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a report on Friday, January 18th. BidaskClub raised shares of PennantPark Investment from a “hold” rating to a “buy” rating in a report on Wednesday, December 12th. Finally, JPMorgan Chase & Co. downgraded shares of PennantPark Investment from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $7.50 to $7.00 in a report on Wednesday, January 16th. Five research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average target price of $7.67.
A number of hedge funds and other institutional investors have recently modified their holdings of PNNT. California Public Employees Retirement System acquired a new stake in PennantPark Investment in the 2nd quarter valued at about $165,000. Private Advisor Group LLC acquired a new stake in PennantPark Investment in the 3rd quarter valued at about $175,000. JPMorgan Chase & Co. lifted its holdings in PennantPark Investment by 12.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,153,357 shares of the asset manager’s stock valued at $23,524,000 after acquiring an additional 355,736 shares during the last quarter. Resource America Inc. lifted its holdings in PennantPark Investment by 26.2% in the 3rd quarter. Resource America Inc. now owns 324,149 shares of the asset manager’s stock valued at $2,418,000 after acquiring an additional 67,385 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in PennantPark Investment by 4.9% in the 3rd quarter. BlackRock Inc. now owns 335,728 shares of the asset manager’s stock valued at $2,505,000 after acquiring an additional 15,574 shares during the last quarter. 43.55% of the stock is owned by institutional investors.
PNNT stock traded up $0.03 during trading on Monday, hitting $6.94. The company had a trading volume of 283,330 shares, compared to its average volume of 309,670. The company has a market capitalization of $470.07 million, a P/E ratio of 9.25 and a beta of 1.21. PennantPark Investment has a fifty-two week low of $6.21 and a fifty-two week high of $7.84. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.91.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Wednesday, March 20th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 10.37%. The ex-dividend date is Tuesday, March 19th. PennantPark Investment’s payout ratio is 96.00%.
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.
Recommended Story: What are different types of coverage ratios?
Get a free copy of the Zacks research report on PennantPark Investment (PNNT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
No comments:
Post a Comment