Wall Street analysts expect PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) to announce $21.31 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for PennantPark Floating Rate Capital’s earnings, with estimates ranging from $20.09 million to $22.53 million. PennantPark Floating Rate Capital reported sales of $21.76 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.1%. The firm is expected to issue its next quarterly earnings report on Wednesday, November 17th.
On average, analysts expect that PennantPark Floating Rate Capital will report full year sales of $82.38 million for the current fiscal year, with estimates ranging from $81.17 million to $83.60 million. For the next fiscal year, analysts forecast that the firm will post sales of $89.69 million, with estimates ranging from $85.60 million to $93.77 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow PennantPark Floating Rate Capital.
PennantPark Floating Rate Capital (NASDAQ:PFLT) last issued its earnings results on Wednesday, August 4th. The asset manager reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). PennantPark Floating Rate Capital had a return on equity of 8.30% and a net margin of 83.90%.
Hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in PennantPark Floating Rate Capital in the 1st quarter valued at approximately $22,783,000. Van ECK Associates Corp grew its stake in PennantPark Floating Rate Capital by 17.5% in the 1st quarter. Van ECK Associates Corp now owns 688,177 shares of the asset manager’s stock valued at $8,176,000 after buying an additional 102,457 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in PennantPark Floating Rate Capital by 0.6% in the 2nd quarter. Advisor Group Holdings Inc. now owns 269,577 shares of the asset manager’s stock valued at $3,430,000 after buying an additional 1,730 shares in the last quarter. BlackRock Inc. grew its stake in PennantPark Floating Rate Capital by 10.7% in the 2nd quarter. BlackRock Inc. now owns 233,344 shares of the asset manager’s stock valued at $2,968,000 after buying an additional 22,623 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in PennantPark Floating Rate Capital in the 1st quarter valued at approximately $1,757,000. Institutional investors own 25.30% of the company’s stock.
PFLT stock traded down $0.07 during midday trading on Tuesday, reaching $12.84. 129,046 shares of the company’s stock traded hands, compared to its average volume of 214,080. The company has a 50-day simple moving average of $12.99 and a two-hundred day simple moving average of $12.69. The company has a market cap of $497.81 million, a price-to-earnings ratio of 7.21, a PEG ratio of 0.22 and a beta of 2.03. PennantPark Floating Rate Capital has a 1-year low of $7.70 and a 1-year high of $13.50. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.45.
The company also recently announced a monthly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Wednesday, August 18th were given a dividend of $0.095 per share. The ex-dividend date was Tuesday, August 17th. This represents a $1.14 annualized dividend and a dividend yield of 8.88%. PennantPark Floating Rate Capital’s dividend payout ratio is currently 101.79%.
PennantPark Floating Rate Capital Company Profile
PennantPark Floating Rate Capital Ltd is a non-diversified closed-end management investment company invests in small market-cap and public middle market companies located in the U.S. and to a limited extent non-US companies. The fund invests in equity securities such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments with investment size of $2 to $20 million.
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