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PennantPark (PFLT) Stock Moves -1.4%: What You Should Know
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The latest trading session saw PennantPark (PFLT - Free Report) ending at $9.86, denoting a -1.4% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 1.43%. Elsewhere, the Dow saw a downswing of 0.32%, while the tech-heavy Nasdaq depreciated by 2.43%.
Prior to today's trading, shares of the investment company had lost 4.85% over the past month. This has lagged the Finance sector's loss of 4.6% and the S&P 500's loss of 1.55% in that time.
The investment community will be paying close attention to the earnings performance of PennantPark in its upcoming release. The company is slated to reveal its earnings on November 15, 2023. On that day, PennantPark is projected to report earnings of $0.30 per share, which would represent year-over-year growth of 3.45%. 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. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PennantPark is currently a Zacks Rank #3 (Hold).
Looking at valuation, PennantPark is presently trading at a Forward P/E ratio of 8.13. This valuation marks a discount compared to its industry's average Forward P/E of 10.27.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 12% 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 Moves -1.4%: What You Should Know
The latest trading session saw PennantPark (PFLT - Free Report) ending at $9.86, denoting a -1.4% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 1.43%. Elsewhere, the Dow saw a downswing of 0.32%, while the tech-heavy Nasdaq depreciated by 2.43%.
Prior to today's trading, shares of the investment company had lost 4.85% over the past month. This has lagged the Finance sector's loss of 4.6% and the S&P 500's loss of 1.55% in that time.
The investment community will be paying close attention to the earnings performance of PennantPark in its upcoming release. The company is slated to reveal its earnings on November 15, 2023. On that day, PennantPark is projected to report earnings of $0.30 per share, which would represent year-over-year growth of 3.45%. 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. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PennantPark is currently a Zacks Rank #3 (Hold).
Looking at valuation, PennantPark is presently trading at a Forward P/E ratio of 8.13. This valuation marks a discount compared to its industry's average Forward P/E of 10.27.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 12% 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.