PennantPark (PNNT) Registers a Bigger Fall Than the Market: Important Facts to Note
PennantPark (PNNT) closed the most recent trading day at $6.67, moving -0.3% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.14% for the day. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, added 0.17%.
The business development company's shares have seen a decrease of 0.74% over the last month, not keeping up with the Finance sector's gain of 4.92% and the S&P 500's gain of 5.34%.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company is expected to report EPS of $0.23, down 11.54% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $36.26 million, indicating a 0.25% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.94 per share and a revenue of $142.22 million, representing changes of -6% and -2.16%, respectively, from the prior year.
Any recent changes to analyst estimates for PennantPark should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. As of now, PennantPark holds a Zacks Rank of #3 (Hold).
Digging into valuation, PennantPark currently has a Forward P/E ratio of 7.13. This denotes a discount relative to the industry's average Forward P/E of 7.69.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 22% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
PennantPark Investment Corporation (PNNT) : Free Stock Analysis Report
