PennantPark Investment (NASDAQ:PNNT) Issues Q3 2024 Earnings Guidance

PennantPark Investment (NASDAQ:PNNT) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.200-0.220 for the period, compared to the consensus EPS estimate of 0.230. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Raymond James downgraded PennantPark Investment from an outperform rating to a market perform rating in a report on Friday, May 10th. Keefe, Bruyette & Woods raised shares of PennantPark Investment to a hold rating in a research report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, PennantPark Investment currently has an average rating of Hold and an average price target of $6.94.

PennantPark Investment Stock Up 0.8 %

Shares of NASDAQ:PNNT traded up $0.06 during midday trading on Friday, hitting $7.86. The stock had a trading volume of 846,412 shares, compared to its average volume of 430,884. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.40. The business’s 50-day simple moving average is $7.49 and its 200-day simple moving average is $7.10. PennantPark Investment has a 12 month low of $6.01 and a 12 month high of $8.04. The company has a market cap of $512.63 million, a P/E ratio of 8.57 and a beta of 1.52.

PennantPark Investment (NASDAQ:PNNT) last issued its earnings results on Wednesday, May 8th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). PennantPark Investment had a net margin of 40.14% and a return on equity of 13.65%. The firm had revenue of $35.98 million during the quarter, compared to the consensus estimate of $36.22 million. On average, sell-side analysts forecast that PennantPark Investment will post 0.92 earnings per share for the current fiscal year.

PennantPark Investment Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 12.21%. The ex-dividend date of this dividend is Monday, July 15th. PennantPark Investment’s payout ratio is presently 104.35%.

About PennantPark Investment

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.