$0.19 Earnings Per Share Expected for PennantPark Investment Corp. (NASDAQ:PNNT) This Quarter

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Brokerages expect PennantPark Investment Corp. (NASDAQ:PNNT) to post $0.19 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for PennantPark Investment’s earnings. The highest EPS estimate is $0.20 and the lowest is $0.19. PennantPark Investment reported earnings per share of $0.17 in the same quarter last year, which suggests a positive year-over-year growth rate of 11.8%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, August 7th.

According to Zacks, analysts expect that PennantPark Investment will report full-year earnings of $0.75 per share for the current financial year, with EPS estimates ranging from $0.72 to $0.77. For the next fiscal year, analysts expect that the business will report earnings of $0.81 per share, with EPS estimates ranging from $0.75 to $0.85. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for PennantPark Investment.

PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings data on Thursday, May 9th. The asset manager reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). PennantPark Investment had a net margin of 28.97% and a return on equity of 7.94%. The business had revenue of $28.69 million for the quarter, compared to analyst estimates of $28.89 million.

PNNT has been the subject of several analyst reports. ValuEngine cut shares of Virtu Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Zacks Investment Research lowered shares of HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. TheStreet raised shares of Silvercorp Metals from a “c+” rating to a “b-” rating in a report on Tuesday, July 16th. LADENBURG THALM/SH SH cut shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a research report on Monday, May 13th. Finally, BidaskClub raised shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $7.60.

NASDAQ PNNT traded up $0.04 on Wednesday, hitting $6.59. 8,629 shares of the company’s stock traded hands, compared to its average volume of 311,537. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.13. PennantPark Investment has a 1-year low of $6.21 and a 1-year high of $7.84. The stock’s 50-day moving average price is $6.39. The firm has a market cap of $442.46 million, a price-to-earnings ratio of 8.80 and a beta of 1.14.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 10.93%. The ex-dividend date of this dividend was Friday, June 14th. PennantPark Investment’s dividend payout ratio is presently 96.00%.

In other PennantPark Investment news, Chairman Arthur H. Penn bought 16,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $6.52 per share, with a total value of $104,320.00. Following the transaction, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,261,033.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Arthur H. Penn bought 15,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost of $6.58 per share, for a total transaction of $98,700.00. Following the completion of the transaction, the chairman now owns 193,410 shares in the company, valued at $1,272,637.80. The disclosure for this purchase can be found here. 2.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of PNNT. Destination Wealth Management bought a new position in shares of PennantPark Investment in the first quarter worth $61,000. Two Sigma Securities LLC acquired a new position in PennantPark Investment in the 4th quarter worth about $71,000. Squarepoint Ops LLC acquired a new position in PennantPark Investment in the 4th quarter worth about $91,000. Moors & Cabot Inc. acquired a new position in shares of PennantPark Investment during the 1st quarter valued at about $96,000. Finally, Quad Cities Investment Group LLC increased its holdings in shares of PennantPark Investment by 7,500.0% during the 2nd quarter. Quad Cities Investment Group LLC now owns 15,200 shares of the asset manager’s stock valued at $97,000 after acquiring an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 43.96% of the company’s stock.

PennantPark Investment Company Profile

PennantPark Investment Corporation 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 building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.

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