PennantPark Investment Corp. (PNNT) Expected to Post Earnings of $0.20 Per Share

Wall Street brokerages forecast that PennantPark Investment Corp. (NASDAQ:PNNT) will report $0.20 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have made estimates for PennantPark Investment’s earnings. The lowest EPS estimate is $0.19 and the highest is $0.21. PennantPark Investment reported earnings of $0.17 per share in the same quarter last year, which indicates a positive year over year growth rate of 17.6%. The firm is expected to report its next earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that PennantPark Investment will report full-year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.69 to $0.77. For the next financial year, analysts expect that the company will post earnings of $0.83 per share, with EPS estimates ranging from $0.78 to $0.88. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow PennantPark Investment.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Thursday, May 9th. The asset manager reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.01). PennantPark Investment had a net margin of 28.97% and a return on equity of 7.83%. The firm had revenue of $28.69 million during the quarter, compared to the consensus estimate of $28.89 million.

Several research analysts recently issued reports on the stock. BidaskClub lowered shares of PennantPark Investment from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Zacks Investment Research lowered shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Raymond James assumed coverage on shares of PennantPark Investment in a research note on Monday, April 29th. They set an “outperform” rating and a $8.00 target price on the stock. LADENBURG THALM/SH SH lowered shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Compass Point lowered shares of PennantPark Investment from a “buy” rating to a “neutral” rating and cut their target price for the stock from $8.50 to $7.00 in a research note on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. PennantPark Investment presently has a consensus rating of “Hold” and an average target price of $7.60.

Shares of NASDAQ:PNNT traded up $0.12 during trading on Thursday, reaching $6.60. The stock had a trading volume of 6,209 shares, compared to its average volume of 285,518. The firm has a market cap of $440.82 million, a P/E ratio of 8.82 and a beta of 1.21. PennantPark Investment has a 52 week low of $6.21 and a 52 week high of $7.84. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.70 and a current ratio of 0.70.

In other PennantPark Investment news, Chairman Arthur H. Penn acquired 16,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $6.52 per share, with a total value of $104,320.00. Following the completion of the purchase, the chairman now owns 193,410 shares of the company’s stock, valued at $1,261,033.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Resource America Inc. raised its holdings in shares of PennantPark Investment by 12.5% in the first quarter. Resource America Inc. now owns 523,402 shares of the asset manager’s stock valued at $3,617,000 after purchasing an additional 58,000 shares during the last quarter. Kennedy Capital Management Inc. raised its holdings in shares of PennantPark Investment by 43.5% in the first quarter. Kennedy Capital Management Inc. now owns 718,493 shares of the asset manager’s stock valued at $4,965,000 after purchasing an additional 217,952 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of PennantPark Investment by 23.1% in the first quarter. Private Advisor Group LLC now owns 28,640 shares of the asset manager’s stock valued at $198,000 after purchasing an additional 5,374 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of PennantPark Investment in the first quarter valued at about $50,000. Finally, BlackRock Inc. raised its holdings in shares of PennantPark Investment by 2.0% in the first quarter. BlackRock Inc. now owns 325,368 shares of the asset manager’s stock valued at $2,248,000 after purchasing an additional 6,438 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

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.

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