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 -.

PennantPark Investment Price Performance

NASDAQ:PNNT opened at $7.83 on Friday. The company has a 50 day moving average price of $7.51 and a 200-day moving average price of $7.11. PennantPark Investment has a 1-year low of $6.01 and a 1-year high of $8.04. The firm has a market cap of $510.67 million, a price-to-earnings ratio of 7.46 and a beta of 1.52. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.63 and a quick ratio of 0.63.

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

PennantPark Investment Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 12.26%. The ex-dividend date of this dividend is Monday, July 15th. PennantPark Investment’s payout ratio is 104.35%.

Wall Street Analysts Forecast Growth

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

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.