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PennantPark (PNNT) Suffers a Larger Drop Than the General Market: Key Insights
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PennantPark (PNNT - Free Report) closed at $6.12 in the latest trading session, marking a -0.97% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.58%, and the technology-centric Nasdaq increased by 0.27%.
The the stock of business development company has fallen by 4.19% in the past month, leading the Finance sector's loss of 6.7% and undershooting the S&P 500's loss of 3.95%.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company plans to announce its earnings on November 15, 2023. The company is forecasted to report an EPS of $0.22, showcasing a 57.14% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $33.45 million, reflecting a 15.61% rise from the equivalent quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for PennantPark. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. PennantPark presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, PennantPark is currently exchanging hands at a Forward P/E ratio of 6.97. This signifies a premium in comparison to the average Forward P/E of 6.96 for its industry.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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PennantPark (PNNT) Suffers a Larger Drop Than the General Market: Key Insights
PennantPark (PNNT - Free Report) closed at $6.12 in the latest trading session, marking a -0.97% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.58%, and the technology-centric Nasdaq increased by 0.27%.
The the stock of business development company has fallen by 4.19% in the past month, leading the Finance sector's loss of 6.7% and undershooting the S&P 500's loss of 3.95%.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company plans to announce its earnings on November 15, 2023. The company is forecasted to report an EPS of $0.22, showcasing a 57.14% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $33.45 million, reflecting a 15.61% rise from the equivalent quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for PennantPark. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. PennantPark presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, PennantPark is currently exchanging hands at a Forward P/E ratio of 6.97. This signifies a premium in comparison to the average Forward P/E of 6.96 for its industry.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.