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PennantPark (PNNT) Flat As Market Sinks: What You Should Know
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PennantPark (PNNT - Free Report) closed the most recent trading day at $7.19, making no change from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.06%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq lost 0.76%.
The business development company's shares have seen an increase of 4.05% over the last month, surpassing the Finance sector's loss of 1.67% and the S&P 500's gain of 3.36%.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company plans to announce its earnings on February 7, 2024. The company's upcoming EPS is projected at $0.23, signifying a 43.75% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $32.46 million, reflecting an 8.33% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.92 per share and a revenue of $134.31 million, indicating changes of -8% and -7.6%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for PennantPark. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate remained stagnant within the past month. PennantPark is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, PennantPark currently has a Forward P/E ratio of 7.84. This expresses a premium compared to the average Forward P/E of 7.78 of its industry.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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PennantPark (PNNT) Flat As Market Sinks: What You Should Know
PennantPark (PNNT - Free Report) closed the most recent trading day at $7.19, making no change from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.06%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq lost 0.76%.
The business development company's shares have seen an increase of 4.05% over the last month, surpassing the Finance sector's loss of 1.67% and the S&P 500's gain of 3.36%.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company plans to announce its earnings on February 7, 2024. The company's upcoming EPS is projected at $0.23, signifying a 43.75% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $32.46 million, reflecting an 8.33% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.92 per share and a revenue of $134.31 million, indicating changes of -8% and -7.6%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for PennantPark. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate remained stagnant within the past month. PennantPark is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, PennantPark currently has a Forward P/E ratio of 7.84. This expresses a premium compared to the average Forward P/E of 7.78 of its industry.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.