Brokerages expect that PennantPark Investment Corporation (NASDAQ:PNNT) will announce earnings of $0.19 per share for the current fiscal quarter, according to Zacks. Five analysts have made estimates for PennantPark Investment Corporation’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.17. PennantPark Investment Corporation posted earnings of $0.21 per share during the same quarter last year, which would indicate a negative year over year growth rate of 9.5%. The company is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, November 29th.
On average, analysts expect that PennantPark Investment Corporation will report full year earnings of $0.83 per share for the current year, with EPS estimates ranging from $0.79 to $0.86. For the next year, analysts expect that the business will post earnings of $0.77 per share, with EPS estimates ranging from $0.70 to $0.81. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow PennantPark Investment Corporation.
PNNT has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of PennantPark Investment Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $8.50 price target on shares of PennantPark Investment Corporation in a report on Thursday, October 26th. Jefferies Group LLC reissued a “hold” rating and issued a $8.00 price target on shares of PennantPark Investment Corporation in a report on Sunday, November 5th. BidaskClub downgraded shares of PennantPark Investment Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Finally, J P Morgan Chase & Co raised shares of PennantPark Investment Corporation from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $8.00 to $8.50 in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. PennantPark Investment Corporation has a consensus rating of “Hold” and an average price target of $8.07.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Pinebridge Investments L.P. raised its stake in PennantPark Investment Corporation by 0.8% in the second quarter. Pinebridge Investments L.P. now owns 22,580 shares of the asset manager’s stock valued at $167,000 after purchasing an additional 169 shares in the last quarter. Stephens Inc. AR raised its stake in PennantPark Investment Corporation by 44.8% in the second quarter. Stephens Inc. AR now owns 23,964 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 7,414 shares in the last quarter. Global X MANAGEMENT CO LLC grew its position in PennantPark Investment Corporation by 49.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 24,829 shares of the asset manager’s stock valued at $186,000 after acquiring an additional 8,165 shares during the last quarter. Stevens Capital Management LP bought a new position in PennantPark Investment Corporation during the third quarter valued at approximately $199,000. Finally, Stifel Financial Corp grew its position in PennantPark Investment Corporation by 50.5% during the second quarter. Stifel Financial Corp now owns 27,700 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 9,300 shares during the last quarter. 41.33% of the stock is currently owned by institutional investors and hedge funds.
PennantPark Investment Corporation Company Profile
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
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