We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PennantPark (PFLT) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
PennantPark (PFLT - Free Report) closed the most recent trading day at $10.70, moving -0.56% from the previous trading session. This move lagged the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the investment company had lost 0.09% in the past month. In that same time, the Finance sector gained 3.18%, while the S&P 500 gained 3.39%.
Investors will be hoping for strength from PennantPark as it approaches its next earnings release. On that day, PennantPark is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 13.79%. Meanwhile, our latest consensus estimate is calling for revenue of $34.23 million, up 33.04% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.34 per share and revenue of $134.76 million, which would represent changes of +13.56% and +27.75%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PennantPark. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PennantPark currently has a Zacks Rank of #3 (Hold).
In terms of valuation, PennantPark is currently trading at a Forward P/E ratio of 8.03. For comparison, its industry has an average Forward P/E of 12.19, 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 112, which puts it in the top 45% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
PennantPark (PFLT) Dips More Than Broader Markets: What You Should Know
PennantPark (PFLT - Free Report) closed the most recent trading day at $10.70, moving -0.56% from the previous trading session. This move lagged the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the investment company had lost 0.09% in the past month. In that same time, the Finance sector gained 3.18%, while the S&P 500 gained 3.39%.
Investors will be hoping for strength from PennantPark as it approaches its next earnings release. On that day, PennantPark is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 13.79%. Meanwhile, our latest consensus estimate is calling for revenue of $34.23 million, up 33.04% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.34 per share and revenue of $134.76 million, which would represent changes of +13.56% and +27.75%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PennantPark. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PennantPark currently has a Zacks Rank of #3 (Hold).
In terms of valuation, PennantPark is currently trading at a Forward P/E ratio of 8.03. For comparison, its industry has an average Forward P/E of 12.19, 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 112, which puts it in the top 45% 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.