PennantPark (PNNT) Q2 Earnings and Revenues Miss Estimates
PennantPark (PNNT) came out with quarterly earnings of $0.18 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.22 per share a year ago.
PennantPark Investment: Dividend Cut May Not Happen After All (Rating Upgrade)
PennantPark Investment's dividend coverage is bolstered by two years' worth of undistributed spillover income, but net investment income remains insufficient to support the base distribution. PNNT's portfolio strategy includes a mix of first lien senior secured investments and equity-based investments, with a growing emphasis on its Joint Venture. Despite a high dividend yield of 13.3%, PNNT's valuation appears expensive given the lack of significant NAV growth and persistent non-accrual issues.
PennantPark Investment Corporation (PNNT) Q1 2025 Earnings Call Transcript
PennantPark Investment Corporation (NYSE:PNNT ) Q1 2025 Earnings Conference Call February 11, 2025 12:00 PM ET Company Participants Art Penn - Chairman & Chief Executive Officer Rick Allorto - Chief Financial Officer Conference Call Participants Mark Hughes - Truist Robert Dodd - Raymond James Brian McKenna - Citizens JMP Paul Johnson - KBW Mickey Schleien - Ladenburg Melissa Wedel - JPMorgan Casey Alexander - Compass Point Operator Good afternoon, and welcome to the PennantPark Investment Corporation's First Fiscal Quarter 2025 Earnings Conference Call. Today's conference is being recorded.
PennantPark (PNNT) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Although the revenue and EPS for PennantPark (PNNT) give a sense of how its business performed in the quarter ended December 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
PennantPark (PNNT) Q1 Earnings Match Estimates
PennantPark (PNNT) came out with quarterly earnings of $0.20 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.24 per share a year ago.
PennantPark Investment: I've Never Seen So Complex And Speculative Structure
PNNT trades at a ~10% discount and offers a yield of ~14%. It has also performed in line with the BDC index this year. While this sounds interesting, it is a clear no-go case.
PennantPark Investment: Weak Dividend Coverage Is A Concern (Rating Downgrade)
PennantPark Investment Corporation's recent dividends were not fully covered by net investment income, leading me to revise my rating from buy to hold. PNNT has a well-diversified portfolio but has significant exposure to equity positions, which can be challenging to value and often lead to market discounts. Despite a strong internalized rate of return on equity investments, the lack of progress in rotating out of equity positions is a negative development.
PennantPark Investment Corporation (PNNT) Q4 2024 Earnings Call Transcript
PennantPark Investment Corporation (NYSE:PNNT ) Q4 2024 Results Conference Call November 26, 2024 12:00 PM ET Company Participants Art Penn - Chairman and Chief Executive Officer Rick Allorto - Chief Financial Officer Conference Call Participants Mark Hughes - Truist Robert Dodd - Raymond James Paul Johnson - KBW Melissa Wedel - JPMorgan Casey Alexander - Compass Point Operator Good afternoon, and welcome to the PennantPark Investment Corporation's Fourth Fiscal Quarter 2024 Earnings Conference Call. Today's conference is being recorded.
Compared to Estimates, PennantPark (PNNT) Q4 Earnings: A Look at Key Metrics
While the top- and bottom-line numbers for PennantPark (PNNT) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
PennantPark (PNNT) Q4 Earnings Match Estimates
PennantPark (PNNT) came out with quarterly earnings of $0.22 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.24 per share a year ago.
PennantPark (PNNT) Expected to Beat Earnings Estimates: Can the Stock Move Higher?
PennantPark (PNNT) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
PennantPark Investment: Questionable Distribution Coverage (Downgrade)
I am downgrading my rating on PennantPark Investment Corporation due to weak distribution coverage and a rising non-accrual rate, indicating lower portfolio quality. Despite a high dividend yield of 13.6%, PNNT's core net investment income is insufficient to cover distributions without relying on special dividends from the joint venture portfolio. PNNT's diversified portfolio includes 56% first lien debt and is diversified by industry. However, the equity exposure could elevate the risk profile.
