PNNT Stock Recent News

MIAMI, Aug. 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for August 2024 of $0.08 per share, payable on September 3, 2024 to stockholders of record as of August 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission.

PennantPark is a business development company, targeting profitable investments with steady cash flows, offering a 12.6% dividend yield. The price now trades at a less favorable discount to net asset value, which makes for a less attractive entry. PNNT's financial performance shows room for improvement, with rising non-accruals impacting net investment income and dividend coverage.

MIAMI, July 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) announced that it will report results for the third fiscal quarter ended June 30, 2024 on Wednesday, August 7, 2024 after the close of the financial markets.

MIAMI, July 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for July 2024 of $0.08 per share, payable on August 1, 2024 to stockholders of record as of July 15, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission.

PennantPark Investment Corp. reported Q2 earnings with net investment income below consensus but showed modest growth in their overall portfolio. The company has a solid portfolio quality but saw its non-accruals tick up during the recent quarter. The recent dividend increase is not covered by their current net investment income, but the company has ample liquidity in spillover income to sustain the dividend.

Although the revenue and EPS for PennantPark (PNNT) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

PennantPark (PNNT) came out with quarterly earnings of $0.22 per share, missing the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.26 per share a year ago.

MIAMI, April 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) announced that it will report results for the second fiscal quarter ended March 31, 2024 on Wednesday, May 8, 2024 after the close of the financial markets.

PNNT provides investors with a high dividend yield of 12% and monthly distributions. However, I believe that income is likely to be affected by future rate cuts. The debt investment portfolio mostly consists of first lien senior secured loans. They operate within the middle market of companies earning between $10M - $50M. The price currently trades at a slight discount to NAV of 10%.  However, the average discount to NAV over the last 3 year period is closer to -26%.

The latest trading day saw PennantPark (PNNT) settling at $6.67, representing a -0.3% change from its previous close.