Equity research analysts expect PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT – Get Rating) reports sales of $23.73 million for the current fiscal quarter, according to Zacks. Two analysts provided earnings estimates for PennantPark Floating Rate Capital, with the highest sales estimate of $24.84 million and the lowest estimate of $22.61 million. PennantPark Floating Rate Capital reported sales of $19.44 million in the same quarter last year, suggesting a positive year-over-year growth rate of 22.1%. The company is expected to announce its next results on Monday, January 1.
According to Zacks, analysts expect PennantPark Floating Rate Capital to report annual sales of $98.66 million for the current year, with estimates ranging from $94.29 million to $103.02 million. dollars. For the next fiscal year, analysts expect the company to post sales of $100.41 million, with estimates ranging from $90.96 million to $109.85 million. Zacks Investment Research sales averages are an average based on a survey of research companies that cover PennantPark Floating Rate Capital.
PennantPark Floating Rate Capital (NASDAQ:PFLT – Get Rating) released its quarterly results for the last time on Wednesday, February 9. The asset manager reported earnings per share (EPS) of $0.33 for the quarter, beating the Zacks consensus estimate of $0.28 by $0.05. The company posted revenue of $26.34 million for the quarter, versus a consensus estimate of $21.53 million. PennantPark Floating Rate Capital had a net margin of 50.76% and a return on equity of 8.80%. In the same quarter of the previous year, the company had earned earnings per share of $0.26.
A number of equity research analysts have recently released PFLT stock reports. Zacks Investment Research moved PennantPark Floating Rate Capital shares from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a Tuesday 15 research note. February. TheStreet downgraded shares of PennantPark Floating Rate Capital from a “b-” rating to a “c” rating in a research note on Friday, February 11. Finally, StockNews.com upgraded the shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a Saturday, February 19 research note. Three analysts gave the stock a hold rating and one gave the stock a buy rating. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.83.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sound Income Strategies LLC increased its holdings of PennantPark Floating Rate Capital shares by 2.6% in the fourth quarter. Sound Income Strategies LLC now owns 2,366,688 shares of the asset manager worth $30,223,000 after purchasing an additional 59,715 shares in the last quarter. Van ECK Associates Corp increased its holdings of PennantPark Floating Rate Capital shares by 8.1% in the fourth quarter. Van ECK Associates Corp now owns 593,836 shares of the asset manager worth $7,584,000 after buying an additional 44,469 shares in the last quarter. BlackRock Inc. increased its holdings of PennantPark Floating Rate Capital shares by 9.0% in the fourth quarter. BlackRock Inc. now owns 296,029 shares of the asset manager worth $3,780,000 after buying an additional 24,493 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings of PennantPark Floating Rate Capital shares by 32.9% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 239,168 shares of the asset manager worth $3,059,000 after purchasing an additional 59,243 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings of PennantPark Floating Rate Capital shares by 12.5% in the fourth quarter. Advisors Asset Management Inc. now owns 208,403 shares of the asset manager worth $2,661,000 after purchasing an additional 23,170 shares in the last quarter. Hedge funds and other institutional investors hold 23.70% of the company’s shares.
PennantPark Floating Rate Capital stock opened at $13.20 on Thursday. The company has a market capitalization of $516.79 million, a price-earnings ratio of 11.38 and a beta of 1.85. The company’s fifty-day moving average is $13.00 and its 200-day moving average is $13.05. The company has a quick ratio of 0.12, a current ratio of 0.12 and a leverage ratio of 0.45. PennantPark Floating Rate Capital has a 52-week low of $11.74 and a 52-week high of $13.92.
The company also recently announced a monthly dividend, which will be paid on Friday, April 1. Shareholders of record on Thursday, March 17 will receive a dividend of $0.095. This represents an annualized dividend of $1.14 and a dividend yield of 8.64%. The ex-dividend date is Wednesday, March 16. PennantPark Floating Rate Capital’s dividend payout ratio is currently 98.28%.
About PennantPark Capital Floating Rate (Get an evaluation)
PennantPark Floating Rate Capital Ltd is a non-diversified, closed-end investment company that invests in small capitalization and mid-market public companies located in the United States and, to a lesser extent, in non-US companies. The fund invests in equity securities such as preferred shares, common shares, warrants or options received through leveraged investments or through direct investments with an investment size of 2 to 20 million dollars.
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