Today, PennantPark Investment Corp. (PNNT) Expected to Post Q1 2017 Earnings of $0.22 Per Share

Today, PennantPark Investment Corp. (PNNT) Expected to Post Q1 2017 Earnings of $0.22 Per Share

PennantPark Investment Corp. (NASDAQ:PNNT) – Stock analysts at FBR & Co cut their Q1 2017 earnings per share (EPS) estimates for shares of PennantPark Investment Corp. in a research report issued to clients and investors on Wednesday. FBR & Co analyst C. Nolan now forecasts that the firm will post earnings per share of $0.22 for the quarter, down from their prior estimate of $0.27. FBR & Co has a “Market Perform” rating and a $8.00 price objective on the stock. FBR & Co also issued estimates for PennantPark Investment Corp.’s Q2 2017 earnings at $0.22 EPS, Q3 2017 earnings at $0.23 EPS, Q4 2017 earnings at $0.23 EPS, FY2017 earnings at $0.90 EPS and FY2018 earnings at $0.96 EPS.

A number of other analysts have also weighed in on the stock. Robert W. Baird reissued a “neutral” rating and issued a $6.00 price objective on shares of PennantPark Investment Corp. in a research report on Saturday. Zacks Investment Research lowered shares of PennantPark Investment Corp. from a “hold” rating to a “strong sell” rating in a research report on Thursday. Ladenburg Thalmann raised shares of PennantPark Investment Corp. from a “neutral” rating to a “buy” rating in a research report on Tuesday. Jefferies Group reissued a “hold” rating on shares of PennantPark Investment Corp. in a research report on Friday, August 12th. Finally, JMP Securities increased their price objective on shares of PennantPark Investment Corp. from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.17.

PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.26 on Thursday. PennantPark Investment Corp. has a one year low of $4.65 and a one year high of $8.30. The stock’s market capitalization is $515.90 million. The company has a 50-day moving average of $7.50 and a 200-day moving average of $7.26.

Several institutional investors have recently added to or reduced their stakes in PNNT. Berson & Corrado Investment Advisors LLC increased its position in PennantPark Investment Corp. by 0.8% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 69,230 shares of the company’s stock worth $473,000 after buying an additional 575 shares in the last quarter. Trust Asset Management LLC increased its position in PennantPark Investment Corp. by 1.7% in the second quarter. Trust Asset Management LLC now owns 137,848 shares of the company’s stock worth $942,000 after buying an additional 2,312 shares in the last quarter. Delphi Financial Group Inc. increased its position in PennantPark Investment Corp. by 0.9% in the second quarter. Delphi Financial Group Inc. now owns 1,837,526 shares of the company’s stock worth $12,532,000 after buying an additional 15,817 shares in the last quarter. Bank of Montreal Can acquired a new position in PennantPark Investment Corp. during the second quarter worth about $5,420,000. Finally, Essex Financial Services Inc. acquired a new position in PennantPark Investment Corp. during the second quarter worth about $104,000. Hedge funds and other institutional investors own 33.70% of the company’s stock.

About PennantPark Investment Corp.

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