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PennantPark (PFLT) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest market close, PennantPark (PFLT - Free Report) reached $11.66, with a -0.43% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.53% for the day. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.19%.
Heading into today, shares of the investment company had lost 3.54% over the past month, lagging the Finance sector's loss of 2.41% and the S&P 500's gain of 2.48% in that time.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company plans to announce its earnings on February 7, 2024. The company is forecasted to report an EPS of $0.31, showcasing a 3.33% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $35.03 million, showing a 11.78% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.22 per share and a revenue of $145.02 million, signifying shifts of -8.27% and +4.07%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for PennantPark. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, PennantPark holds a Zacks Rank of #3 (Hold).
In terms of valuation, PennantPark is presently being traded at a Forward P/E ratio of 9.57. This signifies a discount in comparison to the average Forward P/E of 10.88 for its industry.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 45, positioning it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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PennantPark (PFLT) Stock Drops Despite Market Gains: Important Facts to Note
In the latest market close, PennantPark (PFLT - Free Report) reached $11.66, with a -0.43% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.53% for the day. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.19%.
Heading into today, shares of the investment company had lost 3.54% over the past month, lagging the Finance sector's loss of 2.41% and the S&P 500's gain of 2.48% in that time.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company plans to announce its earnings on February 7, 2024. The company is forecasted to report an EPS of $0.31, showcasing a 3.33% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $35.03 million, showing a 11.78% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.22 per share and a revenue of $145.02 million, signifying shifts of -8.27% and +4.07%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for PennantPark. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, PennantPark holds a Zacks Rank of #3 (Hold).
In terms of valuation, PennantPark is presently being traded at a Forward P/E ratio of 9.57. This signifies a discount in comparison to the average Forward P/E of 10.88 for its industry.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 45, positioning it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.