PennantPark Investment Co. (PNNT) to Issue Monthly Dividend of $0.08 on December 2nd

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Monday, November 4th, NASDAQ reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.08 per share by the asset manager on Monday, December 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 14.26%. The ex-dividend date is Friday, November 15th.

PennantPark Investment has raised its dividend by an average of 14.2% per year over the last three years. PennantPark Investment has a payout ratio of 109.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect PennantPark Investment to earn $0.91 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 105.5%.

PennantPark Investment Stock Performance

NASDAQ PNNT opened at $6.73 on Wednesday. The stock has a market cap of $439.47 million, a PE ratio of 10.20 and a beta of 1.52. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s fifty day moving average price is $6.96 and its two-hundred day moving average price is $7.19. PennantPark Investment has a fifty-two week low of $6.31 and a fifty-two week high of $8.04.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings results on Wednesday, August 7th. The asset manager reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. PennantPark Investment had a net margin of 30.24% and a return on equity of 12.29%. The firm had revenue of $37.00 million during the quarter, compared to the consensus estimate of $36.31 million. On average, equities analysts expect that PennantPark Investment will post 0.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com downgraded PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Compass Point raised PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price objective on the stock in a research note on Monday, September 9th.

About PennantPark Investment

PennantPark Investment Corporation, a business development company is a private equity fund 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 buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.