$26.56 Million in Sales Expected for PennantPark Investment Corp. (PNNT) This Quarter
Equities analysts predict that PennantPark Investment Corp. (NASDAQ:PNNT) will report $26.56 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for PennantPark Investment’s earnings, with estimates ranging from $26.12 million to $27.00 million. PennantPark Investment posted sales of $27.87 million during the same quarter last year, which suggests a negative year-over-year growth rate of 4.7%. The company is scheduled to announce its next earnings report after the market closes on Thursday, November 15th.
According to Zacks, analysts expect that PennantPark Investment will report full year sales of $107.21 million for the current year, with estimates ranging from $106.77 million to $107.65 million. For the next financial year, analysts anticipate that the firm will report sales of $108.99 million, with estimates ranging from $103.40 million to $113.18 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings results on Wednesday, August 8th. The asset manager reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). PennantPark Investment had a return on equity of 8.12% and a net margin of 39.31%. The business had revenue of $24.76 million for the quarter, compared to analyst estimates of $26.13 million.
Several large investors have recently modified their holdings of PNNT. JPMorgan Chase & Co. boosted its stake in shares of PennantPark Investment by 8.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,269,825 shares of the asset manager’s stock valued at $15,161,000 after purchasing an additional 185,389 shares in the last quarter. Millennium Management LLC boosted its stake in shares of PennantPark Investment by 16.5% in the 1st quarter. Millennium Management LLC now owns 513,077 shares of the asset manager’s stock valued at $3,427,000 after purchasing an additional 72,748 shares in the last quarter. West Family Investments Inc. boosted its stake in shares of PennantPark Investment by 6.5% in the 2nd quarter. West Family Investments Inc. now owns 1,025,880 shares of the asset manager’s stock valued at $7,186,000 after purchasing an additional 62,323 shares in the last quarter. Standard Life Aberdeen plc acquired a new stake in shares of PennantPark Investment in the 2nd quarter valued at $350,000. Finally, Bramshill Investments LLC boosted its stake in shares of PennantPark Investment by 72.6% in the 2nd quarter. Bramshill Investments LLC now owns 116,696 shares of the asset manager’s stock valued at $817,000 after purchasing an additional 49,093 shares in the last quarter. Institutional investors own 42.60% of the company’s stock.
PNNT traded up $0.03 during trading on Monday, reaching $7.17. 167,169 shares of the company’s stock were exchanged, compared to its average volume of 197,446. 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 0.73, a current ratio of 2.97 and a quick ratio of 2.97. The company has a market capitalization of $499.71 million, a P/E ratio of 9.08 and a beta of 1.19.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Monday, September 17th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.72 annualized dividend and a dividend yield of 10.04%. PennantPark Investment’s dividend payout ratio is presently 91.14%.
PennantPark Investment Company Profile
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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