PennantPark: Fiscal 3Q Earnings Snapshot
NEW YORK (AP) _ PennantPark Investment Corp. (PNNT) on Wednesday reported fiscal third-quarter earnings of $16.9 million.
On a per-share basis, the New York-based company said it had net income of 24 cents. Earnings, adjusted for investment gains, were 17 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The business development company posted revenue of $24.8 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $26.1 million.
PennantPark shares have increased 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.54, an increase of nearly 1 percent in the last 12 months.