PennantPark Investment has decreased its dividend by an average of 13.7% per year over the last three years. PennantPark Investment has a dividend payout ratio of 97.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect PennantPark Investment to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 85.7%.
PennantPark Investment Corp. (NASDAQ:PNNT) declared a quarterly dividend on Thursday, March 7th, Wall Street Journal reports. Stockholders of record on Wednesday, March 20th will be paid a dividend of 0.18 per share by the asset manager on Monday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 10.21%. The ex-dividend date of this dividend is Tuesday, March 19th.
Shares of NASDAQ:PNNT opened at $7.05 on Thursday. The firm has a market cap of $477.55 million, a PE ratio of 9.40 and a beta of 1.22. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.70 and a quick ratio of 0.70. PennantPark Investment has a 52-week low of $6.21 and a 52-week high of $7.84.
PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings results on Thursday, February 7th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $27.38 million for the quarter, compared to analyst estimates of $28.38 million. PennantPark Investment had a return on equity of 8.21% and a net margin of 39.44%. On average, sell-side analysts anticipate that PennantPark Investment will post 0.76 EPS for the current year.
Several brokerages have recently issued reports on PNNT. BidaskClub downgraded shares of PennantPark Investment from a “buy” rating to a “hold” rating in a report on Wednesday, November 28th. Zacks Investment Research upgraded shares of PennantPark Investment from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Tuesday, January 22nd. Finally, JPMorgan Chase & Co. downgraded shares of PennantPark Investment from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $7.50 to $7.00 in a report on Wednesday, January 16th. Five research analysts have rated the stock with a hold rating, PennantPark Investment currently has a consensus rating of “Hold” and an average target price of $7.67.
PennantPark Investment Company Profile
PennantPark Investment Corporation specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.
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