Pennant Announces Third Quarter 2024 Earnings Release and Call
Third Quarter Financial Results Announcement: The Pennant Group, Inc. will release its third quarter 2024 financial results on November 6, 2024, and will host a live webcast for discussion on November 7, 2024.
Company Overview: Pennant operates independent subsidiaries providing home health, hospice, and senior living services across multiple states in the U.S., with a total of 122 home health and hospice agencies and 54 senior living communities.
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The Pennant Group (PNTG) Sees Stock Increase: Here's the Reason Why
Stock Performance: Shares of The Pennant Group rose 4.5% following a positive consensus 'Buy' rating from analysts, with a potential upside of over 22% based on an average price target of $34.33.
Market Sentiment: The stock's rise was influenced by comments from New York Federal Reserve President John Williams, which increased expectations for an interest rate cut, boosting market confidence amid high valuations in AI stocks.
Wells Fargo Raises Rating on Pennant Group (PNTG)
Wells Fargo Upgrade: On November 18, 2025, Wells Fargo upgraded Pennant Group's outlook from Equal-Weight to Overweight, with an average one-year price target of $34.00/share, indicating a potential upside of 33.86% from its closing price of $25.40/share.
Institutional Ownership Trends: There are 401 funds reporting positions in Pennant Group, reflecting a 7.22% increase in ownership over the last quarter, with total shares owned by institutions rising by 2.79% to 35,470K shares.
Fund Sentiment: The put/call ratio for Pennant Group is 0.92, suggesting a bullish sentiment among investors, while several firms have adjusted their portfolio allocations, with some increasing and others decreasing their holdings.
Projected Financials: The projected annual revenue for Pennant Group is estimated at $550 million, representing a decrease of 35.06%, with a projected non-GAAP EPS of 0.98.
