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PennantPark (PFLT) Stock Falls Amid Market Uptick: What Investors Need to Know
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PennantPark (PFLT - Free Report) closed the latest trading day at $10.70, indicating a -0.09% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.18%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.3%.
Shares of the investment company have appreciated by 3.28% over the course of the past month, underperforming the Finance sector's gain of 4.21% and outperforming the S&P 500's gain of 3.08%.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company plans to announce its earnings on November 15, 2023. The company is expected to report EPS of $0.30, up 3.45% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $34.37 million, indicating a 19.38% increase compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for PennantPark. These revisions help to show the ever-changing nature 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 demonstrates that these adjustments in estimates directly associate with imminent 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, 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. As of now, PennantPark holds a Zacks Rank of #3 (Hold).
From a valuation perspective, PennantPark is currently exchanging hands at a Forward P/E ratio of 8.71. This expresses a discount compared to the average Forward P/E of 10.73 of its industry.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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PennantPark (PFLT) Stock Falls Amid Market Uptick: What Investors Need to Know
PennantPark (PFLT - Free Report) closed the latest trading day at $10.70, indicating a -0.09% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.18%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.3%.
Shares of the investment company have appreciated by 3.28% over the course of the past month, underperforming the Finance sector's gain of 4.21% and outperforming the S&P 500's gain of 3.08%.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company plans to announce its earnings on November 15, 2023. The company is expected to report EPS of $0.30, up 3.45% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $34.37 million, indicating a 19.38% increase compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for PennantPark. These revisions help to show the ever-changing nature 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 demonstrates that these adjustments in estimates directly associate with imminent 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, 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. As of now, PennantPark holds a Zacks Rank of #3 (Hold).
From a valuation perspective, PennantPark is currently exchanging hands at a Forward P/E ratio of 8.71. This expresses a discount compared to the average Forward P/E of 10.73 of its industry.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.