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PennantPark (PFLT) Flat As Market Gains: What You Should Know

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In the latest trading session, PennantPark (PFLT - Free Report) closed at $10.37, marking no change from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.18%. Elsewhere, the Dow saw an upswing of 0.87%, while the tech-heavy Nasdaq appreciated by 1.6%.

The investment company's shares have seen a decrease of 2.63% over the last month, surpassing the Finance sector's loss of 4.4% and the S&P 500's loss of 5.17%.

Market participants will be closely following the financial results of PennantPark in its upcoming release. The company is forecasted to report an EPS of $0.30, showcasing a 3.45% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.37 million, up 19.38% from the year-ago period.

Investors should also pay attention to any latest changes in analyst estimates for PennantPark. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. PennantPark currently has a Zacks Rank of #4 (Sell).

From a valuation perspective, PennantPark is currently exchanging hands at a Forward P/E ratio of 8.43. This expresses a discount compared to the average Forward P/E of 10.68 of its industry.

The Financial - Investment Management industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 186, placing it within the bottom 27% of over 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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