Equities research analysts forecast that Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) will announce sales of $19.92 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Pennantpark Floating Rate Capital’s earnings, with the highest sales estimate coming in at $20.07 million and the lowest estimate coming in at $19.76 million. Pennantpark Floating Rate Capital posted sales of $18.45 million in the same quarter last year, which would suggest a positive year over year growth rate of 8%. The company is expected to announce its next earnings report on Thursday, November 29th.
On average, analysts expect that Pennantpark Floating Rate Capital will report full-year sales of $70.78 million for the current fiscal year, with estimates ranging from $70.62 million to $70.94 million. For the next year, analysts expect that the business will report sales of $85.77 million, with estimates ranging from $82.33 million to $89.21 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Pennantpark Floating Rate Capital.
Pennantpark Floating Rate Capital (NASDAQ:PFLT) last posted its earnings results on Wednesday, August 8th. The asset manager reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. Pennantpark Floating Rate Capital had a net margin of 48.08% and a return on equity of 7.86%. The company had revenue of $19.53 million for the quarter, compared to analyst estimates of $17.93 million.
NASDAQ PFLT traded down $0.03 on Wednesday, reaching $12.92. The company’s stock had a trading volume of 121,436 shares, compared to its average volume of 176,565. Pennantpark Floating Rate Capital has a twelve month low of $12.00 and a twelve month high of $14.65. The company has a market capitalization of $509.85 million, a price-to-earnings ratio of 11.75 and a beta of 0.51.
The business also recently announced a monthly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Monday, September 17th were given a dividend of $0.078 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.24%. The ex-dividend date of this dividend was Friday, September 14th. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is presently 103.64%.
Several large investors have recently modified their holdings of the company. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in shares of Pennantpark Floating Rate Capital during the second quarter valued at approximately $1,787,000. Sound Income Strategies LLC boosted its position in shares of Pennantpark Floating Rate Capital by 12.6% in the third quarter. Sound Income Strategies LLC now owns 1,043,505 shares of the asset manager’s stock worth $13,722,000 after acquiring an additional 117,138 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its position in shares of Pennantpark Floating Rate Capital by 5.2% in the first quarter. Punch & Associates Investment Management Inc. now owns 791,644 shares of the asset manager’s stock worth $10,363,000 after acquiring an additional 39,440 shares during the last quarter. Rational Advisors LLC acquired a new stake in shares of Pennantpark Floating Rate Capital in the first quarter worth approximately $505,000. Finally, PVG Asset Management Corp acquired a new position in Pennantpark Floating Rate Capital during the first quarter valued at approximately $505,000. 33.14% of the stock is currently owned by institutional investors and hedge funds.
About Pennantpark Floating Rate Capital
PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.
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