Trading Report: Today, Equities Analysts Issue Forecasts for PennantPark Investment Corp.’s Q1 2017 Earnings (PNNT)

Today, Equities Analysts Issue Forecasts for PennantPark Investment Corp.’s Q1 2017 Earnings (PNNT)

PennantPark Investment Corp. (NASDAQ:PNNT) – Equities researchers at Jefferies Group dropped their Q1 2017 earnings estimates for PennantPark Investment Corp. in a note issued to investors on Tuesday. Jefferies Group analyst J. Hecht now anticipates that the brokerage will post earnings of $0.19 per share for the quarter, down from their previous forecast of $0.25. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for PennantPark Investment Corp.’s Q2 2017 earnings at $0.19 EPS, Q3 2017 earnings at $0.20 EPS, Q4 2017 earnings at $0.21 EPS, FY2017 earnings at $0.79 EPS, Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.20 EPS, Q3 2018 earnings at $0.20 EPS and Q4 2018 earnings at $0.21 EPS.

A number of other brokerages have also issued reports on PNNT. Ladenburg Thalmann raised PennantPark Investment Corp. from a “neutral” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research raised PennantPark Investment Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, October 12th. FBR & Co increased their price objective on PennantPark Investment Corp. from $7.50 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, August 9th. Finally, JMP Securities increased their price objective on PennantPark Investment Corp. from $7.50 to $8.50 and gave the stock a “market outperform” rating in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.17.

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

PennantPark Investment Corp. (NASDAQ:PNNT) last released its quarterly earnings results on Monday, November 21st. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.05. PennantPark Investment Corp. had a return on equity of 10.71% and a net margin of 4.38%. During the same period last year, the firm earned $0.27 earnings per share.

Several large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in PennantPark Investment Corp. during the second quarter valued at $5,420,000. Burgundy Asset Management Ltd. bought a new stake in PennantPark Investment Corp. during the second quarter valued at $4,911,000. Ares Management LLC raised its stake in PennantPark Investment Corp. by 115.6% in the third quarter. Ares Management LLC now owns 963,259 shares of the company’s stock valued at $7,244,000 after buying an additional 516,511 shares in the last quarter. Nuveen Fund Advisors LLC bought a new stake in PennantPark Investment Corp. during the second quarter valued at $2,355,000. Finally, Mckinley Capital Management LLC Delaware bought a new stake in PennantPark Investment Corp. during the second quarter valued at $2,103,000. 33.70% of the stock is owned by institutional investors and hedge funds.

About PennantPark Investment Corp.

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