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PennantPark (PFLT) Beats Stock Market Upswing: What Investors Need to Know
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PennantPark (PFLT - Free Report) closed at $10.05 in the latest trading session, marking a +1.52% move from the prior day. This change outpaced the S&P 500's 0.65% gain on the day. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.48%.
Prior to today's trading, shares of the investment company had lost 5.08% over the past month. This has lagged the Finance sector's loss of 3.89% and the S&P 500's loss of 2.79% in that time.
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's upcoming EPS is projected at $0.30, signifying a 3.45% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $34.37 million, indicating a 19.38% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for PennantPark. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, PennantPark is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, PennantPark currently has a Forward P/E ratio of 8.05. This signifies a discount in comparison to the average Forward P/E of 10.26 for its industry.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 230, positioning it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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PennantPark (PFLT) Beats Stock Market Upswing: What Investors Need to Know
PennantPark (PFLT - Free Report) closed at $10.05 in the latest trading session, marking a +1.52% move from the prior day. This change outpaced the S&P 500's 0.65% gain on the day. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.48%.
Prior to today's trading, shares of the investment company had lost 5.08% over the past month. This has lagged the Finance sector's loss of 3.89% and the S&P 500's loss of 2.79% in that time.
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's upcoming EPS is projected at $0.30, signifying a 3.45% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $34.37 million, indicating a 19.38% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for PennantPark. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, PennantPark is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, PennantPark currently has a Forward P/E ratio of 8.05. This signifies a discount in comparison to the average Forward P/E of 10.26 for its industry.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 230, positioning it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.