Analysts Expect PennantPark Investment Co. (NASDAQ:PNNT) Will Post Quarterly Sales of $23.69 Million

Brokerages expect that PennantPark Investment Co. (NASDAQ:PNNTGet Rating) will report sales of $23.69 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for PennantPark Investment’s earnings, with the lowest sales estimate coming in at $22.51 million and the highest estimate coming in at $24.86 million. PennantPark Investment posted sales of $20.49 million during the same quarter last year, which would indicate a positive year over year growth rate of 15.6%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that PennantPark Investment will report full-year sales of $101.24 million for the current fiscal year, with estimates ranging from $98.30 million to $104.28 million. For the next year, analysts forecast that the firm will post sales of $111.74 million, with estimates ranging from $98.91 million to $123.91 million. Zacks’ sales calculations are an average based on a survey of analysts that follow PennantPark Investment.

PennantPark Investment (NASDAQ:PNNTGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $24.34 million for the quarter, compared to analyst estimates of $26.01 million. PennantPark Investment had a net margin of 88.94% and a return on equity of 6.59%. During the same period last year, the company posted $0.13 earnings per share.

PNNT has been the topic of several research reports. Zacks Investment Research lowered shares of PennantPark Investment from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Raymond James lifted their price target on shares of PennantPark Investment from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, February 11th. Finally, StockNews.com initiated coverage on shares of PennantPark Investment in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, PennantPark Investment presently has an average rating of “Hold” and a consensus price target of $8.13.

PNNT stock traded up $0.24 during trading on Friday, hitting $7.17. 222,820 shares of the company’s stock traded hands, compared to its average volume of 323,531. The firm has a market capitalization of $474.17 million, a P/E ratio of 5.56 and a beta of 1.67. The business has a fifty day simple moving average of $7.49 and a two-hundred day simple moving average of $7.28. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.83. PennantPark Investment has a 1 year low of $6.21 and a 1 year high of $8.02.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 17th will be paid a dividend of $0.145 per share. This is an increase from PennantPark Investment’s previous quarterly dividend of $0.14. This represents a $0.58 annualized dividend and a dividend yield of 8.09%. The ex-dividend date is Thursday, June 16th. PennantPark Investment’s payout ratio is presently 43.41%.

Several large investors have recently bought and sold shares of the company. Raymond James & Associates lifted its stake in shares of PennantPark Investment by 1.4% during the fourth quarter. Raymond James & Associates now owns 133,205 shares of the asset manager’s stock worth $923,000 after buying an additional 1,819 shares during the period. First Republic Investment Management Inc. lifted its stake in shares of PennantPark Investment by 0.5% during the third quarter. First Republic Investment Management Inc. now owns 499,264 shares of the asset manager’s stock worth $3,240,000 after buying an additional 2,534 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of PennantPark Investment by 5.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 51,655 shares of the asset manager’s stock worth $402,000 after buying an additional 2,548 shares during the period. FJ Capital Management LLC lifted its stake in shares of PennantPark Investment by 2.0% during the third quarter. FJ Capital Management LLC now owns 153,000 shares of the asset manager’s stock worth $992,000 after buying an additional 3,000 shares during the period. Finally, HighTower Advisors LLC lifted its position in PennantPark Investment by 3.5% during the first quarter. HighTower Advisors LLC now owns 95,319 shares of the asset manager’s stock valued at $740,000 after purchasing an additional 3,256 shares during the period. Institutional investors and hedge funds own 32.03% of the company’s stock.

PennantPark Investment Company Profile (Get Rating)

PennantPark Investment Corporation, a business development company is a private equity fund 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 buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.

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

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