$22.21 million in sales expected for PennantPark Investment Co. (NASDAQ:PNNT) this quarter

Stock analysts expect PennantPark Investment Co. (NASDAQ:PNNT) to report sales of $22.21 million for the current quarter, according to Zacks Investment Research. Four analysts have made earnings estimates for PennantPark Investment, with estimates ranging from $21.87 million to $22.43 million. PennantPark Investment recorded sales of $18.73 million in the same quarter last year, which would indicate a positive growth rate of 18.6% year over year. The company is expected to announce its next results after the market closes on Wednesday, February 9.

According to Zacks, analysts expect PennantPark Investment to report revenue of $93.36 million for the current fiscal year, with estimates ranging from $91.97 million to $94.71 million. dollars. For the next fiscal year, analysts expect the company to post sales of $104.72 million, with estimates ranging from $99.07 million to $112.02 million. Zacks Investment Research average sales are an average based on a survey of sell-side research analysts who provide coverage for PennantPark Investment.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly results on Wednesday, November 17. The asset manager reported earnings per share of $0.17 for the quarter, beating 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 204.22%. The company posted revenue of $23.13 million in the quarter, versus a consensus estimate of $21.04 million. During the same period a year earlier, the company posted EPS of $0.14.

The PNNT has been the subject of several recent analyst reports. Zacks Investment Research upgraded PennantPark Investment from a “sell” rating to a “hold” rating in a Tuesday, November 23 research note. JPMorgan Chase & Co. upgraded PennantPark Investment from an “underweight” rating to a “neutral” rating and set a target price of $7.50 for the company in a Friday, November 19 research report. Four analysts rated the stock with a holding rating. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $7.50.

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PNNT stock opened at $7.15 on Monday. PennantPark Investment has a 1 year minimum of $5.39 and a 1 year maximum of $7.41. The company has a debt ratio of 0.92, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $479.41 million, a price-earnings ratio of 2.87, a PEG ratio of 0.33 and a beta of 1.89. The company has a 50-day simple moving average of $6.91 and a two-hundred-day simple moving average of $6.75.

The company also recently announced a quarterly dividend, which was paid on Monday, January 3. Shareholders of record on Monday, December 20 received a dividend of $0.12 per share. The ex-dividend date was Friday, December 17. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 6.71%. PennantPark Investment’s dividend payout ratio is currently 19.28%.

A number of institutional investors and hedge funds have recently changed their stock holdings. Ares Management LLC increased its position in PennantPark Investment by 21.5% in the third quarter. Ares Management LLC now owns 4,415,025 shares of the asset manager worth $28,654,000 after purchasing an additional 780,285 shares in the last quarter. Callodine Capital Management LP increased its position in PennantPark Investment by 18.3% in the third quarter. Callodine Capital Management LP now owns 1,775,000 shares of the asset manager worth $11,520,000 after buying an additional 275,000 shares in the last quarter. Van ECK Associates Corp raised its position in PennantPark Investment by 2.4% in the fourth quarter. Van ECK Associates Corp now owns 1,034,781 shares of the asset manager worth $7,171,000 after buying an additional 24,174 shares in the last quarter. Morgan Stanley increased its position in PennantPark Investment by 5.0% in the third quarter. Morgan Stanley now owns 763,982 shares of the asset manager worth $4,958,000 after buying 36,655 additional 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. Institutional investors hold 31.07% of the company’s shares.

PennantPark Investment Company Profile

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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Earnings history and estimates for PennantPark Investment (NASDAQ:PNNT)

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