PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Issues Earnings Results, Misses Expectations By $0.03 EPS

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) announced its quarterly earnings data on Tuesday, August 8th. The asset manager reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.03, Bloomberg Earnings reports. The business had revenue of $15.19 million during the quarter, compared to analysts’ expectations of $15.17 million. PennantPark Floating Rate Capital had a return on equity of 7.26% and a net margin of 73.28%.

PennantPark Floating Rate Capital (PFLT) opened at 14.17 on Friday. The company’s 50-day moving average is $14.22 and its 200-day moving average is $13.97. PennantPark Floating Rate Capital has a 12 month low of $12.21 and a 12 month high of $14.45.

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.14 dividend on an annualized basis and a yield of 8.05%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 78.08%.

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PFLT has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upgraded shares of PennantPark Floating Rate Capital from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $15.00 to $15.50 in a report on Wednesday, May 10th. Ladenburg Thalmann Financial Services upgraded shares of PennantPark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $14.75 target price on the stock in a research note on Thursday, May 11th. Zacks Investment Research upgraded shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. BidaskClub downgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Maxim Group reiterated a “buy” rating and issued a $14.75 target price on shares of PennantPark Floating Rate Capital in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $15.00.

PennantPark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.

Earnings History for PennantPark Floating Rate Capital (NASDAQ:PFLT)

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