Pennantpark Outperforms Finance Sector Despite Share Drop By Investing.com

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<p>PennantPark (NASDAQ: PFLT) experienced a 1.91% drop in its shares, closing at $10.28 on Friday. This decrease was still less significant than the S&amp;P 500’s loss of 0.85%. Market indices, including the Dow and Nasdaq, also recorded losses of 0.75% and 0.96% respectively.</p>
<p>In light of recent data from InvestingPro, PennantPark’s market capitalization is adjusted to $603.79 million, and the company’s P/E ratio is -252.20. The company’s revenue for LTM2023.Q3 stands at $132.39 million, showing a substantial growth of 34.65% for the same period. This is a sign of accelerated revenue growth, one of the InvestingPro Tips that can be considered when evaluating the company’s performance. </p>
<p>Despite this recent dip, PennantPark’s performance over the past month has been relatively strong compared to the broader finance sector and the S&amp;P 500. The company’s shares declined by 2.51%, which is less than the finance sector’s loss of 4.96% and the S&amp;P 500’s loss of 3.02%.</p>
<p>Looking ahead, PennantPark’s earnings report, due on November 15, 2023, is expected to show promising results. Analysts predict an Earnings Per Share (EPS) of $0.30, representing a 3.45% increase, and revenues of $34.37 million, a rise of 19.38%. Such projections are key indicators of short-term business trends and profit potential for the company. However, it’s worth noting that five analysts have revised their earnings downwards for the upcoming period, according to InvestingPro Tips.</p>
<p>The Zacks Rank system has currently placed PennantPark at #3 (Hold), indicating average performance expectations for the company in the near term. On the other hand, its Forward Price to Earnings (P/E) ratio stands at 8.52, which is lower than the industry average of 10.76, suggesting that the company’s shares are trading at a discount relative to its peers. </p>
<p>One of the key InvestingPro Tips to note about PennantPark is that it has maintained dividend payments for 13 consecutive years, and the dividend yield for Y2023.D293 stands at 11.96%. This is a significant return to shareholders considering the company’s current stock price. For more insights like these, you can explore the InvestingPro product which includes additional tips.</p>
<p><em>This article was generated with the support of AI and reviewed by an editor. For more information see our T&amp;C.</em></p>
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<br /><a href="https://www.investing.com/news/stock-market-news/pennantpark-outperforms-finance-sector-despite-share-drop-93CH-3203713">Source link </a></p><p>The post <a href="https://forextraderhub.com/pennantpark-outperforms-finance-sector-despite-share-drop-by-investing-com.html">Pennantpark Outperforms Finance Sector Despite Share Drop By Investing.com</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>