PennantPark (PFLT) Increases Yet Falls Behind Market: What Investors Need to Know
PennantPark (PFLT) closed the latest trading day at $11.25, indicating a +0.45% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 1.25%. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 1.3%.
Coming into today, shares of the investment company had lost 8.05% in the past month. In that same time, the Finance sector lost 2.58%, while the S&P 500 gained 1.58%.
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. In that report, analysts expect PennantPark to post earnings of $0.31 per share. This would mark year-over-year growth of 3.33%. At the same time, our most recent consensus estimate is projecting a revenue of $35.03 million, reflecting a 11.78% rise from the equivalent quarter last year.
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 revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, PennantPark holds a Zacks Rank of #3 (Hold).
Investors should also note PennantPark's current valuation metrics, including its Forward P/E ratio of 9.16. This indicates a discount in contrast to its industry's Forward P/E of 10.83.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 31, which puts it in the top 13% 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 Floating Rate Capital Ltd. (PFLT) : Free Stock Analysis Report
