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PennantPark (PFLT) Stock Slides as Market Rises: Facts to Know Before You Trade
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The most recent trading session ended with PennantPark (PFLT - Free Report) standing at $11.78, reflecting a -0.25% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 1.7%.
The investment company's shares have seen a decrease of 0.34% over the last month, surpassing the Finance sector's loss of 3.81% and falling behind the S&P 500's gain of 0.94%.
Investors will be eagerly watching for the performance of PennantPark in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 7, 2024. The company's earnings per share (EPS) are projected to be $0.31, reflecting a 3.33% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $35.03 million, up 11.78% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.22 per share and a revenue of $145.02 million, signifying shifts of -8.27% and +4.07%, respectively, from the 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 past month, the Zacks Consensus EPS estimate remained stagnant. PennantPark is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, PennantPark is currently exchanging hands at a Forward P/E ratio of 9.65. This valuation marks a discount compared to its industry's average Forward P/E of 10.82.
The Financial - Investment Management industry is part of the Finance sector. With its current Zacks Industry Rank of 62, this industry ranks in the top 25% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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PennantPark (PFLT) Stock Slides as Market Rises: Facts to Know Before You Trade
The most recent trading session ended with PennantPark (PFLT - Free Report) standing at $11.78, reflecting a -0.25% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 1.7%.
The investment company's shares have seen a decrease of 0.34% over the last month, surpassing the Finance sector's loss of 3.81% and falling behind the S&P 500's gain of 0.94%.
Investors will be eagerly watching for the performance of PennantPark in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 7, 2024. The company's earnings per share (EPS) are projected to be $0.31, reflecting a 3.33% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $35.03 million, up 11.78% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.22 per share and a revenue of $145.02 million, signifying shifts of -8.27% and +4.07%, respectively, from the 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 past month, the Zacks Consensus EPS estimate remained stagnant. PennantPark is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, PennantPark is currently exchanging hands at a Forward P/E ratio of 9.65. This valuation marks a discount compared to its industry's average Forward P/E of 10.82.
The Financial - Investment Management industry is part of the Finance sector. With its current Zacks Industry Rank of 62, this industry ranks in the top 25% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.