Zacks: Brokerages Anticipate PennantPark Investment Corporation (PNNT) Will Announce Earnings of $0.19 Per Share
Wall Street analysts expect PennantPark Investment Corporation (NASDAQ:PNNT) to announce earnings per share (EPS) of $0.19 for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for PennantPark Investment Corporation’s earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.21. PennantPark Investment Corporation posted earnings of $0.21 per share during the same quarter last year, which would suggest a negative year over year growth rate of 9.5%. The firm is expected to report its next earnings results on Monday, November 20th.
According to Zacks, analysts expect that PennantPark Investment Corporation will report full year earnings of $0.83 per share for the current fiscal year, with EPS estimates ranging from $0.79 to $0.86. For the next fiscal year, analysts expect that the business will report earnings of $0.77 per share, with EPS estimates ranging from $0.70 to $0.81. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover PennantPark Investment Corporation.
PennantPark Investment Corporation (NASDAQ:PNNT) last announced its quarterly earnings results on Monday, August 7th. The asset manager reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). PennantPark Investment Corporation had a net margin of 53.92% and a return on equity of 9.11%. The company had revenue of $31.10 million during the quarter, compared to the consensus estimate of $31.09 million. During the same period in the previous year, the firm posted $0.25 EPS. The business’s quarterly revenue was down 12.4% compared to the same quarter last year.
PNNT has been the subject of a number of recent analyst reports. Compass Point initiated coverage on shares of 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. Zacks Investment Research downgraded shares of PennantPark Investment Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $8.50 price objective on shares of PennantPark Investment Corporation in a research report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $8.00 price objective on shares of PennantPark Investment Corporation in a research report on Friday, July 14th. Finally, BidaskClub downgraded shares of PennantPark Investment Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. PennantPark Investment Corporation presently has an average rating of “Hold” and a consensus target price of $8.25.
PennantPark Investment Corporation (NASDAQ:PNNT) opened at 7.48 on Friday. PennantPark Investment Corporation has a 52 week low of $6.86 and a 52 week high of $8.68. The firm has a 50-day moving average of $7.56 and a 200-day moving average of $7.67.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 9.63%. The ex-dividend date of this dividend is Tuesday, September 19th. PennantPark Investment Corporation’s dividend payout ratio (DPR) is 74.23%.
In other PennantPark Investment Corporation news, Chairman Arthur H. Penn purchased 32,000 shares of PennantPark Investment Corporation stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average price of $7.72 per share, with a total value of $247,040.00. Following the transaction, the chairman now owns 183,400 shares in the company, valued at approximately $1,415,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Arthur H. Penn purchased 28,000 shares of PennantPark Investment Corporation stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average cost of $7.62 per share, with a total value of $213,360.00. Following the transaction, the chairman now owns 193,410 shares in the company, valued at approximately $1,473,784.20. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PNNT. LSV Asset Management grew its position in PennantPark Investment Corporation by 36.9% in the 2nd quarter. LSV Asset Management now owns 2,741,127 shares of the asset manager’s stock valued at $20,256,000 after purchasing an additional 738,141 shares during the period. UBS Group AG grew its position in PennantPark Investment Corporation by 28.4% in the 1st quarter. UBS Group AG now owns 1,520,945 shares of the asset manager’s stock valued at $12,381,000 after purchasing an additional 336,001 shares during the period. Oxford Asset Management acquired a new stake in PennantPark Investment Corporation in the 1st quarter valued at $2,077,000. Arrowstreet Capital Limited Partnership acquired a new stake in PennantPark Investment Corporation in the 2nd quarter valued at $1,412,000. Finally, GSA Capital Partners LLP grew its position in PennantPark Investment Corporation by 90.3% in the 2nd quarter. GSA Capital Partners LLP now owns 332,665 shares of the asset manager’s stock valued at $2,458,000 after purchasing an additional 157,852 shares during the period. 42.72% of the stock is owned by institutional investors and hedge funds.
PennantPark Investment Corporation Company Profile
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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