Trade Report: Today, DA Davidson Research Analysts Cut Earnings Estimates for PennantPark Investment Corp. (PNNT)

Today, DA Davidson Research Analysts Cut Earnings Estimates for PennantPark Investment Corp. (PNNT)

PennantPark Investment Corp. (NASDAQ:PNNT) – Equities researchers at DA Davidson reduced their Q1 2017 earnings per share (EPS) estimates for shares of PennantPark Investment Corp. in a note issued to investors on Tuesday. DA Davidson analyst A. Cyganovich now expects that the firm will earn $0.21 per share for the quarter, down from their prior estimate of $0.24. DA Davidson also issued estimates for PennantPark Investment Corp.’s Q2 2017 earnings at $0.21 EPS, Q3 2017 earnings at $0.21 EPS, Q4 2017 earnings at $0.21 EPS, FY2017 earnings at $0.84 EPS, Q1 2018 earnings at $0.22 EPS, Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.22 EPS and FY2018 earnings at $0.88 EPS.

PennantPark Investment Corp. (NASDAQ:PNNT) last announced its quarterly earnings data on Monday, November 21st. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by $0.05. PennantPark Investment Corp. had a net margin of 4.38% and a return on equity of 10.71%. During the same quarter in the previous year, the company earned $0.27 EPS.

Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of PennantPark Investment Corp. from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research note on Thursday, August 11th. Ladenburg Thalmann raised shares of PennantPark Investment Corp. from a “neutral” rating to a “buy” rating in a research note on Tuesday. Jefferies Group reissued a “hold” rating on shares of PennantPark Investment Corp. in a research note on Friday, August 5th. JMP Securities boosted their target price on shares of PennantPark Investment Corp. from $7.50 to $8.50 and gave the company a “market outperform” rating in a research note on Wednesday, August 10th. Finally, FBR & Co lowered shares of PennantPark Investment Corp. from an “outperform” rating to a “market perform” rating and set a $8.00 target price for the company. in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $7.17.

Shares of PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.08 on Wednesday. The company’s 50-day moving average is $7.51 and its 200 day moving average is $7.26. PennantPark Investment Corp. has a 12 month low of $4.65 and a 12 month high of $8.30. The stock’s market capitalization is $503.10 million.

A number of institutional investors have recently made changes to their positions in the company. GAM Holding AG purchased a new position in shares of PennantPark Investment Corp. during the third quarter worth approximately $113,000. KCG Holdings Inc. purchased a new position in shares of PennantPark Investment Corp. during the second quarter worth approximately $102,000. Societe Generale purchased a new position in shares of PennantPark Investment Corp. during the second quarter worth approximately $104,000. Essex Financial Services Inc. purchased a new position in shares of PennantPark Investment Corp. during the second quarter worth approximately $104,000. Finally, Sheaff Brock Investment Advisors LLC increased its position in shares of PennantPark Investment Corp. by 4.5% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 15,750 shares of the company’s stock worth $108,000 after buying an additional 680 shares in the last quarter. Institutional investors and hedge funds own 33.70% of the company’s stock.

PennantPark Investment Corp. Company Profile

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