PennantPark Investment Co. (NASDAQ:PNNT) Plans $0.08 Monthly Dividend

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Monday, November 4th, NASDAQ reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.08 per share by the asset manager on Monday, December 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.26%. The ex-dividend date is Friday, November 15th.

PennantPark Investment has increased its dividend payment by an average of 14.2% annually over the last three years. PennantPark Investment has a dividend payout ratio of 109.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect PennantPark Investment to earn $0.91 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 105.5%.

PennantPark Investment Stock Up 1.4 %

PNNT traded up $0.09 during trading hours on Tuesday, reaching $6.73. 547,036 shares of the stock traded hands, compared to its average volume of 444,970. PennantPark Investment has a fifty-two week low of $6.31 and a fifty-two week high of $8.04. The company has a market cap of $439.47 million, a price-to-earnings ratio of 7.30 and a beta of 1.52. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s fifty day simple moving average is $6.96 and its two-hundred day simple moving average is $7.19.

PennantPark Investment (NASDAQ:PNNT) last announced its earnings results on Wednesday, August 7th. The asset manager reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. PennantPark Investment had a return on equity of 12.29% and a net margin of 30.24%. The company had revenue of $37.00 million during the quarter, compared to the consensus estimate of $36.31 million. As a group, analysts forecast that PennantPark Investment will post 0.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PNNT shares. StockNews.com downgraded PennantPark Investment from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Compass Point upgraded shares of PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price target for the company in a research note on Monday, September 9th.

PennantPark Investment Company Profile

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.