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PennantPark (PFLT) Gains But Lags Market: What You Should Know
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PennantPark (PFLT - Free Report) closed the most recent trading day at $9.78, moving +1.88% from the previous trading session. This move lagged the S&P 500's daily gain of 2.59%. Elsewhere, the Dow gained 2.66%, while the tech-heavy Nasdaq added 0.11%.
Heading into today, shares of the investment company had lost 19.8% over the past month, lagging the Finance sector's loss of 9.14% and the S&P 500's loss of 9.22% in that time.
PennantPark will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $27.04 million, up 25.05% from the year-ago period.
Investors might also notice recent changes to analyst estimates for PennantPark. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. PennantPark is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note PennantPark's current valuation metrics, including its Forward P/E ratio of 7.96. Its industry sports an average Forward P/E of 8.5, so we one might conclude that PennantPark is trading at a discount comparatively.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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PennantPark (PFLT) Gains But Lags Market: What You Should Know
PennantPark (PFLT - Free Report) closed the most recent trading day at $9.78, moving +1.88% from the previous trading session. This move lagged the S&P 500's daily gain of 2.59%. Elsewhere, the Dow gained 2.66%, while the tech-heavy Nasdaq added 0.11%.
Heading into today, shares of the investment company had lost 19.8% over the past month, lagging the Finance sector's loss of 9.14% and the S&P 500's loss of 9.22% in that time.
PennantPark will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $27.04 million, up 25.05% from the year-ago period.
Investors might also notice recent changes to analyst estimates for PennantPark. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. PennantPark is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note PennantPark's current valuation metrics, including its Forward P/E ratio of 7.96. Its industry sports an average Forward P/E of 8.5, so we one might conclude that PennantPark is trading at a discount comparatively.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.