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&P 500's loss of 0.85%. Market indices, including the Dow and Nasdaq, also recorded losses of 0.75% and 0.96% respectively.
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.
Despite this recent dip, PennantPark's performance over the past month has been relatively strong compared to the broader finance sector and the S&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&P 500's loss of 3.02%.
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.
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.
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.
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