PNNT Stock Recent News

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

PennantPark Investment Corporation is a business development company that primarily invests in smaller, non-public companies in the core middle market. PNNT's main attraction is its dividend, currently around 13%, making it a potential buy for income investors. The company has weathered challenging environments, such as the Great Recession and COVID, but its dividend may fluctuate based on interest rate cycles.

PennantPark Investment is currently changing hands at a 15% discount to fiscal 2023 fourth quarter NAV per share. NAV dipped by $1.28 from its year-ago figure as PNNT's investment portfolio also realized a more defensive positioning. NII per share of $0.24 fully covers the dividend, but a near-term dividend raise seems unlikely.

PennantPark (PNNT) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, PNNT crossed above the 20-day moving average, suggesting a short-term bullish trend.

MIAMI, Oct. 13, 2023 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) announced that it will report results for the fourth fiscal quarter ended September 30, 2023 on Wednesday, November 15, 2023 after the close of the financial markets.

PennantPark is a BDC with a robust balance sheet with relatively low leverage and adequate liquidity. The company pays generous dividends and intends to switch to monthly distributions. The company is deeply undervalued based on the dividend discount model. Besides that, compared to its NAV, its current stock price offers a two-digit margin of safety.

PennantPark Investment Corporation has seen a decline in the percentage of its portfolio included on the watch list, indicating improving credit quality. PNNT has a well-diversified portfolio, but with a substantial exposure to equities. However, management has committed to reducing the percentage of equity investments in the portfolio. PNNT offers an attractive dividend yield of around 12.71% and has a solid net investment income coverage ratio, supporting its dividend stability.

PennantPark (PNNT) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

DFH, RDNT and PNNT made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on August 15, 2023.

PNNT, SWRAY and BSRR made it to the Zacks Rank #1 (Strong Buy) income stocks list on August 15, 2023.