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PennantPark (PFLT) Stock Drops Despite Market Gains: Important Facts to Note
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PennantPark (PFLT - Free Report) closed at $11.22 in the latest trading session, marking a -0.27% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.07%. Elsewhere, the Dow saw an upswing of 0.35%, while the tech-heavy Nasdaq appreciated by 1.74%.
Shares of the investment company have depreciated by 9.27% over the course of the past month, underperforming the Finance sector's gain of 0.61% and the S&P 500's gain of 2.93%.
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 is expected to report EPS of $0.31, up 3.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $35.03 million, up 11.78% from the year-ago period.
PFLT's full-year Zacks Consensus Estimates are calling for earnings of $1.22 per share and revenue of $145.02 million. These results would represent year-over-year changes of -8.27% and +4.07%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for PennantPark. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, PennantPark possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, PennantPark is holding a Forward P/E ratio of 9.2. Its industry sports an average Forward P/E of 10.83, so one might conclude that PennantPark is trading at a discount comparatively.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 40, positioning it in the top 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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PennantPark (PFLT) Stock Drops Despite Market Gains: Important Facts to Note
PennantPark (PFLT - Free Report) closed at $11.22 in the latest trading session, marking a -0.27% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.07%. Elsewhere, the Dow saw an upswing of 0.35%, while the tech-heavy Nasdaq appreciated by 1.74%.
Shares of the investment company have depreciated by 9.27% over the course of the past month, underperforming the Finance sector's gain of 0.61% and the S&P 500's gain of 2.93%.
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 is expected to report EPS of $0.31, up 3.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $35.03 million, up 11.78% from the year-ago period.
PFLT's full-year Zacks Consensus Estimates are calling for earnings of $1.22 per share and revenue of $145.02 million. These results would represent year-over-year changes of -8.27% and +4.07%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for PennantPark. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, PennantPark possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, PennantPark is holding a Forward P/E ratio of 9.2. Its industry sports an average Forward P/E of 10.83, so one might conclude that PennantPark is trading at a discount comparatively.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 40, positioning it in the top 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.