PennantPark (PFLT) Stock Moves -0.45%: What You Should Know

PennantPark (PFLT) closed at $11.15 in the latest trading session, marking a -0.45% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.23%. Elsewhere, the Dow saw a downswing of 1.36%, while the tech-heavy Nasdaq depreciated by 1.4%.

Heading into today, shares of the investment company had lost 1.93% over the past month, lagging the Finance sector's gain of 2.76% and the S&P 500's gain of 1.61% in that time.

Investors will be eagerly watching for the performance of PennantPark in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 8, 2024. The company is expected to report EPS of $0.33, down 5.71% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $40.24 million, indicating a 16.42% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $1.30 per share and revenue of $160.51 million, which would represent changes of -2.26% and +15.19%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for PennantPark. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

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. Over the past month, the Zacks Consensus EPS estimate has moved 3.05% higher. PennantPark is holding a Zacks Rank of #2 (Buy) right now.

In terms of valuation, PennantPark is currently trading at a Forward P/E ratio of 8.65. This valuation marks a discount compared to its industry's average Forward P/E of 11.29.

The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 25, positioning it in the top 10% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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PennantPark Floating Rate Capital Ltd. (PFLT) : Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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