We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
In the latest trading session, PennantPark (PNNT - Free Report) closed at $6.42, marking a +0.47% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.5%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 1.23%.
The business development company's shares have seen a decrease of 4.34% over the last month, not keeping up with the Finance sector's loss of 3.92% and the S&P 500's loss of 2.4%.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company is predicted to post an EPS of $0.22, indicating a 57.14% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $33.45 million, indicating a 15.61% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for PennantPark. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PennantPark is currently a Zacks Rank #2 (Buy).
In terms of valuation, PennantPark is currently trading at a Forward P/E ratio of 7.21. This valuation marks a premium compared to its industry's average Forward P/E of 7.19.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 75, positioning it in the top 30% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why the Market Dipped But (PNNT) Gained Today
In the latest trading session, PennantPark (PNNT - Free Report) closed at $6.42, marking a +0.47% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.5%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 1.23%.
The business development company's shares have seen a decrease of 4.34% over the last month, not keeping up with the Finance sector's loss of 3.92% and the S&P 500's loss of 2.4%.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company is predicted to post an EPS of $0.22, indicating a 57.14% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $33.45 million, indicating a 15.61% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for PennantPark. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PennantPark is currently a Zacks Rank #2 (Buy).
In terms of valuation, PennantPark is currently trading at a Forward P/E ratio of 7.21. This valuation marks a premium compared to its industry's average Forward P/E of 7.19.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 75, positioning it in the top 30% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.