Equities research analysts expect PennantPark Investment Co. (NASDAQ:PNNT) to announce sales of $22.21 million for the current quarter, Zacks reports. Four analysts have provided estimates for PennantPark Investment’s earnings, with the lowest sales estimate coming in at $21.87 million and the highest estimate coming in at $22.43 million. PennantPark Investment reported sales of $18.73 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.6%. The firm is scheduled to announce 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 fiscal year, with estimates ranging from $91.97 million to $94.71 million. For the next financial year, analysts anticipate that the business will report sales of $104.72 million, with estimates ranging from $99.07 million to $112.02 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last announced its earnings results on Wednesday, November 17th. The asset manager reported $0.17 EPS for the quarter, beating the Thomson Reuters’ 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 previous year, the firm earned $0.14 EPS.
Several large investors have recently modified their holdings of PNNT. Ares Management LLC raised its position in shares of PennantPark Investment by 21.5% during the third quarter. Ares Management LLC now owns 4,415,025 shares of the asset manager’s stock worth $28,654,000 after purchasing an additional 780,285 shares during the period. First Trust Advisors LP acquired a new position in shares of PennantPark Investment during the second quarter worth approximately $4,376,000. Relative Value Partners Group LLC raised its position in shares of PennantPark Investment by 1,442.0% during the second quarter. Relative Value Partners Group LLC now owns 628,263 shares of the asset manager’s stock worth $4,271,000 after purchasing an additional 587,519 shares during the period. Marshall Wace LLP acquired a new position in shares of PennantPark Investment during the third quarter worth approximately $2,983,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of PennantPark Investment during the second quarter worth approximately $2,482,000. 33.83% of the stock is currently owned by institutional investors.
PNNT stock traded up $0.01 during trading on Thursday, hitting $7.13. The company had a trading volume of 144,490 shares, compared to its average volume of 361,776. The business has a 50-day moving average of $6.73 and a 200-day moving average of $6.66. PennantPark Investment has a one year low of $4.34 and a one year high of $7.41. The stock has a market cap of $478.07 million, a PE ratio of 3.17, a PEG ratio of 0.35 and a beta of 1.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Friday, September 17th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date of this dividend was Thursday, September 16th. PennantPark Investment’s payout ratio is 21.33%.
PennantPark Investment Company Profile
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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