Brokerages expect PennantPark Investment Corp. (NASDAQ:PNNT) to post $25.60 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for PennantPark Investment’s earnings. The highest sales estimate is $26.33 million and the lowest is $24.00 million. PennantPark Investment reported sales of $31.08 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 17.6%. The business is expected to report its next quarterly earnings report on Monday, August 6th.
On average, analysts expect that PennantPark Investment will report full year sales of $108.30 million for the current year, with estimates ranging from $106.00 million to $109.61 million. For the next financial year, analysts anticipate that the company will post sales of $110.39 million per share, with estimates ranging from $103.69 million to $116.88 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings results on Wednesday, May 9th. The asset manager reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. PennantPark Investment had a net margin of 38.78% and a return on equity of 8.17%. The business had revenue of $27.23 million for the quarter, compared to the consensus estimate of $27.23 million.
Several brokerages have weighed in on PNNT. BidaskClub raised shares of PennantPark Investment from a “sell” rating to a “hold” rating in a report on Thursday, May 24th. Zacks Investment Research downgraded shares of PennantPark Investment from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. ValuEngine downgraded shares of PennantPark Investment from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, TheStreet raised shares of PennantPark Investment from a “c” rating to a “b-” rating in a report on Thursday, March 29th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.21.
Hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of PennantPark Investment in the first quarter worth $118,000. Cullen Frost Bankers Inc. purchased a new position in shares of PennantPark Investment in the first quarter worth $122,000. Great West Life Assurance Co. Can purchased a new position in shares of PennantPark Investment in the first quarter worth $126,000. Koch Industries Inc. purchased a new position in shares of PennantPark Investment in the fourth quarter worth $184,000. Finally, Jane Street Group LLC purchased a new position in shares of PennantPark Investment in the first quarter worth $261,000. 44.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PennantPark Investment opened at $7.14 on Wednesday, Marketbeat Ratings reports. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.76. PennantPark Investment has a 1-year low of $6.29 and a 1-year high of $7.84. The company has a market cap of $497.78 million, a price-to-earnings ratio of 8.92, a PEG ratio of 4.73 and a beta of 1.18.
The business also recently announced a quarterly dividend, which was paid on Monday, July 2nd. Stockholders of record on Monday, June 18th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 10.08%. The ex-dividend date was Friday, June 15th. PennantPark Investment’s dividend payout ratio (DPR) is presently 91.14%.
About PennantPark Investment
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
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