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.
PennantPark (PNNT) Stock Drops Despite Market Gains: Important Facts to Note
Read MoreHide Full Article
PennantPark (PNNT - Free Report) closed the most recent trading day at $7.08, moving -0.42% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.08% for the day. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 0.36%.
Coming into today, shares of the business development company had gained 3.34% in the past month. In that same time, the Finance sector lost 2.71%, while the S&P 500 gained 2.4%.
The upcoming earnings release of PennantPark will be of great interest to investors. The company's earnings report is expected on February 7, 2024. On that day, PennantPark is projected to report earnings of $0.23 per share, which would represent year-over-year growth of 43.75%. Simultaneously, our latest consensus estimate expects the revenue to be $32.46 million, showing an 8.33% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.92 per share and a revenue of $134.31 million, representing changes of -8% and -7.6%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. PennantPark presently features a Zacks Rank of #3 (Hold).
In terms of valuation, PennantPark is currently trading at a Forward P/E ratio of 7.76. For comparison, its industry has an average Forward P/E of 7.74, which means PennantPark is trading at a premium to the group.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
PennantPark (PNNT) Stock Drops Despite Market Gains: Important Facts to Note
PennantPark (PNNT - Free Report) closed the most recent trading day at $7.08, moving -0.42% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.08% for the day. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 0.36%.
Coming into today, shares of the business development company had gained 3.34% in the past month. In that same time, the Finance sector lost 2.71%, while the S&P 500 gained 2.4%.
The upcoming earnings release of PennantPark will be of great interest to investors. The company's earnings report is expected on February 7, 2024. On that day, PennantPark is projected to report earnings of $0.23 per share, which would represent year-over-year growth of 43.75%. Simultaneously, our latest consensus estimate expects the revenue to be $32.46 million, showing an 8.33% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.92 per share and a revenue of $134.31 million, representing changes of -8% and -7.6%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. PennantPark presently features a Zacks Rank of #3 (Hold).
In terms of valuation, PennantPark is currently trading at a Forward P/E ratio of 7.76. For comparison, its industry has an average Forward P/E of 7.74, which means PennantPark is trading at a premium to the group.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.