DA Davidson Analysts Decrease Earnings Estimates for PennantPark Investment Corp. (PNNT)

PennantPark Investment Corp. (NASDAQ:PNNT) – Investment analysts at DA Davidson cut their Q3 2017 earnings per share (EPS) estimates for shares of PennantPark Investment Corp. in a research note issued on Tuesday. DA Davidson analyst A. Cyganovich now anticipates that the asset manager will post earnings of $0.20 per share for the quarter, down from their previous estimate of $0.21. DA Davidson also issued estimates for PennantPark Investment Corp.’s Q4 2017 earnings at $0.20 EPS, Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.20 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.20 EPS and FY2018 earnings at $0.80 EPS.

PennantPark Investment Corp. (NASDAQ:PNNT) last issued its quarterly earnings data on Monday, May 8th. The asset manager reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The firm had revenue of $33.70 million during the quarter, compared to analyst estimates of $33.29 million. PennantPark Investment Corp. had a return on equity of 10.79% and a net margin of 51.21%. The business’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share.

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Earnings History and Estimates for PennantPark Investment Corp. (NASDAQ:PNNT)

PNNT has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of PennantPark Investment Corp. from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Wednesday, May 3rd. Ladenburg Thalmann Financial Services downgraded shares of PennantPark Investment Corp. from a “buy” rating to a “neutral” rating in a report on Thursday, February 9th. Jefferies Group LLC reiterated a “hold” rating and issued a $8.00 price objective on shares of PennantPark Investment Corp. in a report on Thursday, March 16th. TheStreet downgraded shares of PennantPark Investment Corp. from a “b-” rating to a “c+” rating in a report on Tuesday, March 21st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $8.50 price target on shares of PennantPark Investment Corp. in a research note on Friday, April 21st. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. PennantPark Investment Corp. has an average rating of “Hold” and an average price target of $7.89.

PennantPark Investment Corp. (NASDAQ:PNNT) opened at 8.14 on Wednesday. The stock’s 50 day moving average price is $7.92 and its 200-day moving average price is $7.86. The stock has a market cap of $578.43 million, a price-to-earnings ratio of 6.94 and a beta of 1.22. PennantPark Investment Corp. has a 12 month low of $6.09 and a 12 month high of $8.68.

Several institutional investors have recently bought and sold shares of PNNT. Relative Value Partners Group LLC boosted its position in PennantPark Investment Corp. by 7.0% in the third quarter. Relative Value Partners Group LLC now owns 202,797 shares of the asset manager’s stock worth $1,525,000 after buying an additional 13,265 shares during the last quarter. Stephens Inc. AR boosted its position in PennantPark Investment Corp. by 4.6% in the third quarter. Stephens Inc. AR now owns 17,448 shares of the asset manager’s stock worth $131,000 after buying an additional 773 shares during the last quarter. Ares Management LLC boosted its position in PennantPark Investment Corp. by 115.6% in the third quarter. Ares Management LLC now owns 963,259 shares of the asset manager’s stock worth $7,244,000 after buying an additional 516,511 shares during the last quarter. Nuveen Fund Advisors LLC boosted its position in PennantPark Investment Corp. by 3.8% in the third quarter. Nuveen Fund Advisors LLC now owns 357,998 shares of the asset manager’s stock worth $2,692,000 after buying an additional 13,147 shares during the last quarter. Finally, Delphi Financial Group Inc. boosted its position in PennantPark Investment Corp. by 3.6% in the fourth quarter. Delphi Financial Group Inc. now owns 1,385,037 shares of the asset manager’s stock worth $10,609,000 after buying an additional 48,365 shares during the last quarter. 35.40% of the stock is owned by hedge funds and other institutional investors.

About PennantPark Investment Corp.

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.

5 Day Chart for NASDAQ:PNNT

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