$22.21 Million in Sales Expected for PennantPark Investment Co. (NASDAQ:PNNT) This Quarter

Equities analysts expect PennantPark Investment Co. (NASDAQ:PNNT) to post $22.21 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for PennantPark Investment’s earnings, with the highest sales estimate coming in at $22.43 million and the lowest estimate coming in at $21.87 million. PennantPark Investment reported sales of $18.73 million during the same quarter last year, which indicates a positive year over year growth rate of 18.6%. The company is expected to issue its next earnings results on Tuesday, February 8th.

According to Zacks, analysts expect that PennantPark Investment will report full year sales of $93.36 million for the current financial year, with estimates ranging from $91.97 million to $94.71 million. For the next financial year, analysts anticipate that the firm will post sales of $104.72 million, with estimates ranging from $99.07 million to $112.02 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow PennantPark Investment.

PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings results on Wednesday, November 17th. The asset manager reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. PennantPark Investment had a return on equity of 5.81% and a net margin of 189.39%. During the same period in the prior year, the business earned $0.14 EPS.

Several research analysts have commented on PNNT shares. Zacks Investment Research upgraded PennantPark Investment from a “sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. raised PennantPark Investment from an “underweight” rating to a “neutral” rating and set a $7.50 target price on the stock in a research report on Friday, November 19th. TheStreet raised PennantPark Investment from a “c” rating to a “b-” rating in a research report on Wednesday, September 29th. Finally, JMP Securities reaffirmed a “hold” rating on shares of PennantPark Investment in a research report on Tuesday, August 24th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, PennantPark Investment currently has an average rating of “Hold” and an average price target of $7.50.

PNNT traded up $0.01 during trading on Thursday, hitting $7.13. 144,490 shares of the stock were exchanged, compared to its average volume of 361,776. The firm has a 50 day simple moving average of $6.73 and a 200 day simple moving average of $6.66. The firm has a market cap of $478.07 million, a price-to-earnings ratio of 3.17, a P/E/G ratio of 0.35 and a beta of 1.90. PennantPark Investment has a 1 year low of $4.34 and a 1 year high of $7.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.02.

The company also recently declared a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Friday, September 17th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, September 16th. This represents a $0.48 dividend on an annualized basis and a yield of 6.73%. PennantPark Investment’s dividend payout ratio is currently 21.33%.

A number of institutional investors and hedge funds have recently modified their holdings of PNNT. Ares Management LLC lifted its position in PennantPark Investment by 21.5% during the 3rd quarter. Ares Management LLC now owns 4,415,025 shares of the asset manager’s stock worth $28,654,000 after acquiring an additional 780,285 shares during the period. First Trust Advisors LP purchased a new position in shares of PennantPark Investment during the 2nd quarter valued at about $4,376,000. Relative Value Partners Group LLC raised its stake in shares of PennantPark Investment by 1,442.0% during the 2nd quarter. Relative Value Partners Group LLC now owns 628,263 shares of the asset manager’s stock valued at $4,271,000 after buying an additional 587,519 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of PennantPark Investment during the 3rd quarter valued at about $2,983,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of PennantPark Investment during the 2nd quarter valued at about $2,482,000. 33.83% of the stock is owned by institutional investors.

About PennantPark Investment

PennantPark Investment Corporation is a publicly listed business development firm specializing in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The firm invests in equity securities and debt transactions through preferred stock, common stock, warrants, options, subordinated loans, mezzanine loans, and senior secured loans.

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

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