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

PennantPark (PFLT) closed at $9.89 in the latest trading session, marking a +1.33% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.43%, and the tech-heavy Nasdaq gained 0.03%.

Coming into today, shares of the investment company had lost 20.33% in the past month. In that same time, the Finance sector lost 9.32%, while the S&P 500 lost 9.7%.

Wall Street will be looking for positivity from PennantPark as it approaches its next earnings report date. In that report, analysts expect PennantPark to post earnings of $0.30 per share. This would mark year-over-year growth of 7.14%. Our most recent consensus estimate is calling for quarterly revenue of $27.04 million, up 25.05% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.21 per share and revenue of $103.74 million. These totals would mark changes of +14.15% and +25.45%, respectively, from last year.

Any recent changes to analyst estimates for PennantPark should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PennantPark is holding a Zacks Rank of #1 (Strong Buy) right now.

Valuation is also important, so investors should note that PennantPark has a Forward P/E ratio of 8.09 right now. For comparison, its industry has an average Forward P/E of 8.85, which means PennantPark is trading at a discount to the group.

The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% 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 Floating Rate Capital Ltd. (PFLT): Free Stock Analysis Report
 
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