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PennantPark (PFLT) Gains As Market Dips: What You Should Know
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In the latest trading session, PennantPark (PFLT - Free Report) closed at $11.12, marking a +1.09% move from the previous day. This change outpaced the S&P 500's 0.02% loss on the day. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Heading into today, shares of the investment company had gained 4.36% over the past month, lagging the Finance sector's gain of 7.54% and the S&P 500's gain of 5.14% in that time.
PennantPark will be looking to display strength as it nears its next earnings release. In that report, analysts expect PennantPark to post earnings of $0.33 per share. This would mark year-over-year growth of 13.79%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.23 million, up 33.04% from the year-ago period.
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.
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. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. PennantPark is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that PennantPark has a Forward P/E ratio of 8.21 right now. This represents a discount compared to its industry's average Forward P/E of 12.41.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% 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) Gains As Market Dips: What You Should Know
In the latest trading session, PennantPark (PFLT - Free Report) closed at $11.12, marking a +1.09% move from the previous day. This change outpaced the S&P 500's 0.02% loss on the day. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Heading into today, shares of the investment company had gained 4.36% over the past month, lagging the Finance sector's gain of 7.54% and the S&P 500's gain of 5.14% in that time.
PennantPark will be looking to display strength as it nears its next earnings release. In that report, analysts expect PennantPark to post earnings of $0.33 per share. This would mark year-over-year growth of 13.79%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.23 million, up 33.04% from the year-ago period.
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.
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. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. PennantPark is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that PennantPark has a Forward P/E ratio of 8.21 right now. This represents a discount compared to its industry's average Forward P/E of 12.41.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% 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.