PennantPark Investment (NASDAQ:PNNT) posted its quarterly earnings data on Thursday. The asset manager reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.03), Fidelity Earnings reports. PennantPark Investment had a return on equity of 7.46% and a net margin of 14.20%. The business had revenue of $27.93 million during the quarter, compared to analysts’ expectations of $28.50 million.
Shares of PNNT opened at $6.02 on Friday. The stock’s fifty day moving average price is $6.08 and its two-hundred day moving average price is $6.34. PennantPark Investment has a 1 year low of $5.84 and a 1 year high of $7.40. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $398.25 million, a PE ratio of 9.12 and a beta of 1.12.
PNNT has been the topic of several research analyst reports. JPMorgan Chase & Co. cut PennantPark Investment from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $6.50 to $6.00 in a research report on Tuesday, October 29th. Zacks Investment Research upgraded PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Thursday. BidaskClub lowered PennantPark Investment from a “sell” rating to a “strong sell” rating in a research note on Friday, October 4th. Finally, ValuEngine lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. PennantPark Investment currently has an average rating of “Hold” and a consensus price target of $7.25.
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.
Further Reading: What is a good rate of return for a mutual fund?
Receive News & Ratings for PennantPark Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennantPark Investment and related companies with MarketBeat.com's FREE daily email newsletter.