$26.01 Million in Sales Expected for PennantPark Investment Co. (NASDAQ:PNNT) This Quarter

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Wall Street brokerages predict that PennantPark Investment Co. (NASDAQ:PNNTGet Rating) will post sales of $26.01 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for PennantPark Investment’s earnings. The highest sales estimate is $27.71 million and the lowest is $25.01 million. PennantPark Investment reported sales of $19.23 million in the same quarter last year, which would indicate a positive year over year growth rate of 35.3%. The firm is expected to report its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that PennantPark Investment will report full year sales of $108.36 million for the current financial year, with estimates ranging from $105.32 million to $113.72 million. For the next year, analysts anticipate that the firm will report sales of $115.31 million, with estimates ranging from $103.91 million to $124.35 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for PennantPark Investment.

PennantPark Investment (NASDAQ:PNNTGet Rating) last posted its quarterly earnings results on Wednesday, February 9th. The asset manager reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.06. PennantPark Investment had a return on equity of 6.26% and a net margin of 132.66%. The firm had revenue of $28.35 million during the quarter, compared to analyst estimates of $22.21 million. During the same period last year, the company earned $0.12 earnings per share.

Several equities research analysts recently issued reports on the company. Raymond James lifted their price objective on PennantPark Investment from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, February 11th. Zacks Investment Research lowered PennantPark Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Finally, StockNews.com assumed coverage on PennantPark Investment in a research note on Thursday, March 31st. They set a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.13.

NASDAQ:PNNT opened at $7.40 on Friday. The firm has a market capitalization of $489.36 million, a price-to-earnings ratio of 4.09 and a beta of 1.75. PennantPark Investment has a 52-week low of $6.17 and a 52-week high of $8.02. The stock has a fifty day moving average of $7.72 and a 200 day moving average of $7.24. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.16 and a current ratio of 2.16.

The company also recently declared a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Thursday, March 17th were given a dividend of $0.14 per share. This is an increase from PennantPark Investment’s previous quarterly dividend of $0.12. The ex-dividend date was Wednesday, March 16th. This represents a $0.56 dividend on an annualized basis and a yield of 7.57%. PennantPark Investment’s dividend payout ratio (DPR) is presently 30.94%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ares Management LLC raised its position in PennantPark Investment by 12.2% during the fourth quarter. Ares Management LLC now owns 4,952,393 shares of the asset manager’s stock valued at $34,320,000 after purchasing an additional 537,368 shares in the last quarter. Callodine Capital Management LP increased its holdings in shares of PennantPark Investment by 5.4% in the fourth quarter. Callodine Capital Management LP now owns 1,870,000 shares of the asset manager’s stock worth $12,959,000 after buying an additional 95,000 shares during the period. Van ECK Associates Corp increased its holdings in shares of PennantPark Investment by 2.4% in the fourth quarter. Van ECK Associates Corp now owns 1,034,781 shares of the asset manager’s stock worth $7,171,000 after buying an additional 24,174 shares during the period. Morgan Stanley increased its holdings in shares of PennantPark Investment by 5.0% in the third quarter. Morgan Stanley now owns 763,982 shares of the asset manager’s stock worth $4,958,000 after buying an additional 36,655 shares during the period. Finally, Putnam Investments LLC increased its holdings in shares of PennantPark Investment by 3.6% in the third quarter. Putnam Investments LLC now owns 675,363 shares of the asset manager’s stock worth $4,383,000 after buying an additional 23,780 shares during the period. Institutional investors and hedge funds own 30.76% of the company’s stock.

PennantPark Investment Company Profile (Get Rating)

PennantPark Investment Corporation, a business development company is a private equity fund 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 buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.

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