Analysts expect that PennantPark Investment Corporation (NASDAQ:PNNT) will report $0.20 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for PennantPark Investment Corporation’s earnings, with the lowest EPS estimate coming in at $0.19 and the highest estimate coming in at $0.23. PennantPark Investment Corporation reported earnings of $0.25 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 20%. The firm is expected to announce its next quarterly earnings results after the market closes on Monday, August 7th.

According to Zacks, analysts expect that PennantPark Investment Corporation will report full year earnings of $0.85 per share for the current fiscal year, with EPS estimates ranging from $0.82 to $0.89. For the next financial year, analysts forecast that the business will report earnings of $0.81 per share, with EPS estimates ranging from $0.73 to $0.90. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover PennantPark Investment Corporation.

PennantPark Investment Corporation (NASDAQ:PNNT) last issued its quarterly earnings data on Monday, May 8th. The asset manager reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. The firm had revenue of $33.70 million during the quarter, compared to the consensus estimate of $33.29 million. PennantPark Investment Corporation had a return on equity of 9.98% and a net margin of 58.91%. The firm’s revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 EPS.

Several research firms recently commented on PNNT. Jefferies Group LLC restated a “hold” rating and set a $8.00 target price on shares of PennantPark Investment Corporation in a research report on Friday, July 14th. Keefe, Bruyette & Woods set a $9.00 target price on PennantPark Investment Corporation and gave the stock a “hold” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded PennantPark Investment Corporation from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Wednesday, April 12th. JMP Securities downgraded PennantPark Investment Corporation from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 11th. They noted that the move was a valuation call. Finally, Compass Point began coverage on PennantPark Investment Corporation in a research report on Thursday, July 13th. They set a “buy” rating and a $8.50 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $8.19.

Shares of PennantPark Investment Corporation (NASDAQ PNNT) traded down 0.93% on Friday, reaching $7.44. The company had a trading volume of 189,317 shares. PennantPark Investment Corporation has a 12 month low of $6.86 and a 12 month high of $8.68. The company’s 50-day moving average is $7.44 and its 200 day moving average is $7.82.

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In other PennantPark Investment Corporation news, Chairman Arthur H. Penn purchased 32,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average cost of $7.72 per share, with a total value of $247,040.00. Following the acquisition, the chairman now directly owns 183,400 shares of the company’s stock, valued at approximately $1,415,848. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Arthur H. Penn purchased 28,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average cost of $7.78 per share, with a total value of $217,840.00. Following the completion of the acquisition, the chairman now directly owns 183,400 shares in the company, valued at $1,426,852. The disclosure for this purchase can be found here. Insiders have purchased a total of 77,000 shares of company stock valued at $596,970 over the last ninety days. Insiders own 1.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. LSV Asset Management boosted its stake in PennantPark Investment Corporation by 262.0% in the first quarter. LSV Asset Management now owns 2,002,986 shares of the asset manager’s stock worth $16,304,000 after buying an additional 1,449,656 shares in the last quarter. Muzinich & Co. Inc. boosted its stake in PennantPark Investment Corporation by 67.2% in the first quarter. Muzinich & Co. Inc. now owns 2,186,589 shares of the asset manager’s stock worth $17,799,000 after buying an additional 878,491 shares in the last quarter. UBS Group AG boosted its stake in PennantPark Investment Corporation by 28.4% in the first quarter. UBS Group AG now owns 1,520,945 shares of the asset manager’s stock worth $12,381,000 after buying an additional 336,001 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in PennantPark Investment Corporation during the first quarter worth $2,166,000. Finally, Oxford Asset Management acquired a new stake in PennantPark Investment Corporation during the first quarter worth $2,077,000. 43.98% of the stock is owned by hedge funds and other institutional investors.

About PennantPark Investment Corporation

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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Earnings History and Estimates for PennantPark Investment Corporation (NASDAQ:PNNT)

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