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

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Monday, January 6th,Wall Street Journal reports. Shareholders of record on Wednesday, January 15th will be given a dividend of 0.08 per share by the asset manager on Monday, February 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 13.33%. The ex-dividend date of this dividend is Wednesday, January 15th.

PennantPark Investment has raised its dividend by an average of 14.2% annually over the last three years. PennantPark Investment has a payout ratio of 111.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect PennantPark Investment to earn $0.87 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 110.3%.

PennantPark Investment Stock Performance

Shares of PNNT opened at $7.20 on Wednesday. PennantPark Investment has a one year low of $6.43 and a one year high of $8.04. The business has a fifty day moving average of $6.93 and a 200 day moving average of $7.06. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market capitalization of $470.13 million, a P/E ratio of 42.36 and a beta of 1.47.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH cut shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, PennantPark Investment has a consensus rating of “Hold” and a consensus price target of $6.00.

About PennantPark Investment

PennantPark Investment Corporation, a business development company is a private equity fund specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.