PennantPark Investment Co. (PNNT) to Issue Monthly Dividend of $0.08 on December 2nd

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Monday, November 4th,NASDAQ Dividends reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.08 per share by the asset manager on Monday, December 2nd. This represents a $0.96 annualized dividend and a dividend yield of 13.78%. The ex-dividend date of this dividend is Friday, November 15th.

PennantPark Investment has raised its dividend by an average of 14.2% per year over the last three years. PennantPark Investment has a payout ratio of 107.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect PennantPark Investment to earn $0.91 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 105.5%.

PennantPark Investment Stock Down 0.9 %

Shares of NASDAQ:PNNT opened at $6.97 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.54. The firm has a market cap of $454.81 million, a P/E ratio of 7.48 and a beta of 1.52. PennantPark Investment has a 12 month low of $6.31 and a 12 month high of $8.04. The company’s 50-day moving average price is $6.96 and its two-hundred day moving average price is $7.19.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com cut shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Compass Point upgraded PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 target price for the company in a research report on Monday, September 9th.

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.