PennantPark Investment (PNNT) Set to Announce Quarterly Earnings on Wednesday

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PennantPark Investment (NASDAQ:PNNT) will be posting its quarterly earnings results after the market closes on Wednesday, August 7th. Analysts expect PennantPark Investment to post earnings of $0.19 per share for the quarter.

PennantPark Investment (NASDAQ:PNNT) last announced its earnings results on Thursday, May 9th. The asset manager reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). PennantPark Investment had a return on equity of 7.94% and a net margin of 28.97%. The firm had revenue of $28.69 million during the quarter, compared to the consensus estimate of $28.89 million. On average, analysts expect PennantPark Investment to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of NASDAQ:PNNT opened at $6.44 on Tuesday. PennantPark Investment has a 52-week low of $6.21 and a 52-week high of $7.84. The company has a market cap of $431.77 million, a price-to-earnings ratio of 8.59 and a beta of 1.14. The stock has a 50 day moving average price of $6.43. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.58 and a quick ratio of 1.58.

Several research analysts have recently issued reports on the company. Compass Point lowered PennantPark Investment from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $8.50 to $7.00 in a research report on Friday, May 3rd. BidaskClub raised PennantPark Investment from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 18th. TheStreet lowered PennantPark Investment from a “b-” rating to a “c” rating in a research report on Tuesday, July 16th. Raymond James started coverage on PennantPark Investment in a research note on Monday, April 29th. They issued an “outperform” rating and a $8.00 price target on the stock. Finally, ValuEngine downgraded PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. PennantPark Investment has a consensus rating of “Hold” and a consensus price target of $7.60.

In related news, Chairman Arthur H. Penn purchased 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average price of $6.58 per share, for a total transaction of $98,700.00. Following the purchase, the chairman now directly owns 193,410 shares of the company’s stock, valued at approximately $1,272,637.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Arthur H. Penn purchased 16,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average price of $6.52 per share, for a total transaction of $104,320.00. Following the purchase, the chairman now directly owns 193,410 shares in the company, valued at $1,261,033.20. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.

About PennantPark Investment

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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Earnings History for PennantPark Investment (NASDAQ:PNNT)

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