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

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

PennantPark Investment Stock Performance

PNNT stock traded up $0.06 during midday trading on Friday, hitting $7.86. 846,412 shares of the company traded hands, compared to its average volume of 430,884. PennantPark Investment has a twelve month low of $6.01 and a twelve month high of $8.04. 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 has a 50 day simple moving average of $7.49 and a 200-day simple moving average of $7.10. The stock has a market capitalization of $512.63 million, a price-to-earnings ratio of 8.57 and a beta of 1.52.

PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings results on Wednesday, May 8th. The asset manager reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $35.98 million for the quarter, compared to analyst estimates of $36.22 million. PennantPark Investment had a net margin of 40.14% and a return on equity of 13.65%. As a group, equities research analysts predict that PennantPark Investment will post 0.92 earnings per share for the current year.

PennantPark Investment Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be paid a $0.08 dividend. The ex-dividend date is Monday, July 15th. This represents a $0.96 annualized dividend and a dividend yield of 12.21%. PennantPark Investment’s payout ratio is 104.35%.

Wall Street Analysts Forecast Growth

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

PennantPark Investment Company Profile

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.