PennantPark Investment Co. (PNNT) To Go Ex-Dividend on September 15th

by · The Markets Daily

PennantPark Investment Co. (NASDAQ:PNNT – Get Free Report) announced a monthly dividend on Wednesday, September 2nd. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.04 per share by the asset manager on Thursday, October 1st. This represents a c) annualized dividend and a yield of 13.4%. The ex-dividend date is Tuesday, September 15th.

PennantPark Investment has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. PennantPark Investment has a payout ratio of 67.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect PennantPark Investment to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 60.0%.

PennantPark Investment Stock Up 1.3%

Shares of NASDAQ:PNNT opened at $3.58 on Friday. The firm has a fifty day moving average price of $3.56 and a two-hundred day moving average price of $4.04. The company has a market cap of $234.09 million, a price-to-earnings ratio of 13.79 and a beta of 0.61. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47. PennantPark Investment has a one year low of $3.19 and a one year high of $7.17.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped their price target on PennantPark Investment from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.10.

Check Out Our Latest Stock Report on PNNT

PennantPark Investment Company Profile

(Get Free Report)

PennantPark Investment Corporation is a publicly traded closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Since its formation in 2006, PennantPark has focused on providing customized financing solutions to middle-market companies across the United States. The firm’s investment advisory services are provided by PennantPark Investment Advisers, LLC, which sources and structures transactions tailored to the unique needs of its portfolio companies.

The company’s core strategy centers on debt and equity investments in U.S.-based businesses, typically those with annual revenues between $10 million and $200 million.

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