Why the Market Dipped But PennantPark (PFLT) Gained Today
The latest trading session saw PennantPark (PFLT) ending at $11.27, denoting a +0.18% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.08%, while the tech-heavy Nasdaq depreciated by 0.42%.
The investment company's stock has dropped by 1.75% in the past month, falling short of the Finance sector's gain of 2.71% and the S&P 500's gain of 2.67%.
Analysts and investors alike will be keeping a close eye on the performance of PennantPark in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.33, showcasing a 5.71% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $40.24 million, reflecting a 16.42% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.26 per share and a revenue of $160.51 million, indicating changes of -5.26% and +15.19%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for PennantPark. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. PennantPark currently has a Zacks Rank of #2 (Buy).
Digging into valuation, PennantPark currently has a Forward P/E ratio of 8.95. This denotes a discount relative to the industry's average Forward P/E of 11.12.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 25, positioning it in the top 10% 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.
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 Floating Rate Capital Ltd. (PFLT) : Free Stock Analysis Report
