Analysts expect PennantPark Investment Co. (NASDAQ:PNNT – Get a rating) will report sales of $26.01 million for the current quarter, according to Zacks. Four analysts provided earnings estimates for PennantPark Investment, with estimates ranging from $25.01 million to $27.71 million. PennantPark Investment recorded sales of $19.23 million in the same quarter last year, which would indicate a positive growth rate of 35.3% year over year. The company is expected to release its next results on Wednesday, May 4.
According to Zacks, analysts expect PennantPark Investment to report annual revenue of $108.36 million for the current fiscal year, with estimates ranging from $105.32 million to $113.72 million. of dollars. For the next fiscal year, analysts expect the company to post sales of $115.31 million, with estimates ranging from $103.91 million to $124.35 million. Zacks sell calculations are an average based on a survey of sell side analysts who provide coverage for PennantPark Investment.
Pennant Park Investment (NASDAQ: PNNT – Get a rating) last reported results on Wednesday, February 9. The asset manager reported earnings per share of $0.19 for the quarter, beating analyst consensus estimates of $0.14 by $0.05. PennantPark Investment posted a net margin of 204.22% and a return on equity of 5.81%. In the same quarter of the previous year, the company achieved EPS of $0.12.
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The PNNT has been the subject of several analyst reports. Zacks Investment Research moved shares of PennantPark Investment from a “hold” rating to a “buy” rating and set a price target of $8.50 for the stock in a Tuesday, February 15, report. Raymond James raised his price target on PennantPark Investment shares from $8.00 to $9.00 and gave the company an “outperform” rating in a Friday, February 11 report. Finally, JPMorgan Chase & Co. downgraded PennantPark Investment shares from an “underweight” to a “neutral” rating and set a price target of $7.50 on the stock in a report from the Friday, November 19. Three investment analysts gave the stock a hold rating and two gave the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.13.
Several institutional investors have recently increased or reduced their stake in the company. Ares Management LLC increased its position in shares of PennantPark Investment by 12.2% during the fourth quarter. Ares Management LLC now owns 4,952,393 shares of the asset manager valued at $34,320,000 after purchasing an additional 537,368 shares in the last quarter. Callodine Capital Management LP increased its position in shares of PennantPark Investment by 5.4% during the fourth quarter. Callodine Capital Management LP now owns 1,870,000 shares of the asset manager valued at $12,959,000 after buying an additional 95,000 shares in the last quarter. Van ECK Associates Corp increased its position in shares of PennantPark Investment by 2.4% during the fourth quarter. Van ECK Associates Corp now owns 1,034,781 shares of the asset manager valued at $7,171,000 after buying an additional 24,174 shares in the last quarter. Morgan Stanley increased its position in PennantPark Investment shares by 5.0% during the third quarter. Morgan Stanley now owns 763,982 shares of the asset manager valued at $4,958,000 after buying an additional 36,655 shares in the last quarter. Finally, Putnam Investments LLC increased its position in PennantPark Investment by 3.6% in the third quarter. Putnam Investments LLC now owns 675,363 shares of the asset manager worth $4,383,000 after buying an additional 23,780 shares in the last quarter. Hedge funds and other institutional investors own 31.07% of the company’s shares.
Shares of PennantPark Stock Investment opened at $7.64 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt ratio of 0.92. The stock has a market capitalization of $512.26 million, a price/earnings ratio of 3.07, a P/E/G ratio of 0.33 and a beta of 1.89. The company’s fifty-day moving average is $7.11 and its 200-day moving average is $6.86. PennantPark Investment has a 12-month low of $5.39 and a 12-month high of $7.83.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 1. Shareholders of record on Thursday, March 17 will receive a dividend of $0.14 per share. The ex-dividend date is Wednesday, March 16. This represents an annualized dividend of $0.56 and a dividend yield of 7.33%. This is a boost from PennantPark Investment’s previous quarterly dividend of $0.12. PennantPark Investment’s dividend payout ratio (DPR) is currently 19.28%.
About PennantPark Investment (Get a rating)
PennantPark Investment Corporation is a publicly traded business development company 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 Company invests in equity and debt transactions through preferred stock, common stock, warrants, options, subordinated loans, mezzanine loans and senior secured loans.
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