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PennantPark (PFLT) Stock Sinks As Market Gains: What You Should Know
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PennantPark (PFLT - Free Report) closed at $10.34 in the latest trading session, marking a -0.19% move from the prior day. This change lagged the S&P 500's daily gain of 2.37%. Elsewhere, the Dow gained 2.47%, while the tech-heavy Nasdaq lost 0.02%.
Heading into today, shares of the investment company had lost 4.43% over the past month, outpacing the Finance sector's loss of 5.94% and the S&P 500's loss of 4.82% in that time.
Wall Street will be looking for positivity from PennantPark as it approaches its next earnings report date. In that report, analysts expect PennantPark to post earnings of $0.30 per share. This would mark year-over-year growth of 7.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $27.04 million, up 25.05% from the year-ago period.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. PennantPark currently has a Zacks Rank of #3 (Hold).
Investors should also note PennantPark's current valuation metrics, including its Forward P/E ratio of 8.35. For comparison, its industry has an average Forward P/E of 8.99, which means PennantPark is trading at a discount to the group.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 212, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PFLT in the coming trading sessions, be sure to utilize Zacks.com.
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PennantPark (PFLT) Stock Sinks As Market Gains: What You Should Know
PennantPark (PFLT - Free Report) closed at $10.34 in the latest trading session, marking a -0.19% move from the prior day. This change lagged the S&P 500's daily gain of 2.37%. Elsewhere, the Dow gained 2.47%, while the tech-heavy Nasdaq lost 0.02%.
Heading into today, shares of the investment company had lost 4.43% over the past month, outpacing the Finance sector's loss of 5.94% and the S&P 500's loss of 4.82% in that time.
Wall Street will be looking for positivity from PennantPark as it approaches its next earnings report date. In that report, analysts expect PennantPark to post earnings of $0.30 per share. This would mark year-over-year growth of 7.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $27.04 million, up 25.05% from the year-ago period.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. PennantPark currently has a Zacks Rank of #3 (Hold).
Investors should also note PennantPark's current valuation metrics, including its Forward P/E ratio of 8.35. For comparison, its industry has an average Forward P/E of 8.99, which means PennantPark is trading at a discount to the group.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 212, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PFLT in the coming trading sessions, be sure to utilize Zacks.com.