PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) Plans Monthly Dividend of $0.08

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) announced a monthly dividend on Friday, October 2nd. Stockholders of record on Thursday, October 15th will be paid a dividend of $0.08 per share on Monday, November 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.4%. The ex-dividend date is Thursday, October 15th.

PennantPark Floating Rate Capital Stock Down 0.1%

Shares of PFLT opened at $6.67 on Tuesday. PennantPark Floating Rate Capital has a 52 week low of $6.58 and a 52 week high of $9.75. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $662.29 million, a price-to-earnings ratio of 13.09 and a beta of 0.80. The stock’s 50-day moving average price is $7.18 and its 200-day moving average price is $7.68.

PennantPark Floating Rate Capital (NYSE:PFLT) last posted its earnings results on Monday, August 10th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). The company had revenue of $66.09 million for the quarter. PennantPark Floating Rate Capital had a return on equity of 10.24% and a net margin of 18.53%. On average, sell-side analysts predict that PennantPark Floating Rate Capital will post 1.06 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on PFLT. Zacks Research raised PennantPark Floating Rate Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. UBS Group reaffirmed a “buy” rating and set a $8.50 price objective (down from $9.50) on shares of PennantPark Floating Rate Capital in a research note on Friday. Finally, Weiss Ratings cut shares of PennantPark Floating Rate Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PennantPark Floating Rate Capital has an average rating of “Moderate Buy” and an average target price of $9.60.

About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) is a business development company that invests in privately held, middle-market businesses. The company seeks to generate current income and preserve capital primarily through investments in floating-rate, senior secured loans.

PennantPark Floating Rate Capital’s portfolio may also include second-lien loans, subordinated debt and equity-related investments. Its investments are generally made in companies across a range of industries, with an emphasis on providing financing to businesses that may not have access to traditional public debt markets.

The company was established in 2011 and is externally managed by PennantPark Investment Advisers, LLC, an affiliate of PennantPark Investment Corporation.