Wall Street analysts expect PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) will report $0.28 in earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts released earnings estimates for PennantPark Floating Rate Capital, with the lowest EPS estimate of $0.27 and the highest estimate of $0.28. PennantPark Floating Rate Capital reported earnings per share of $0.26 in the same quarter last year, indicating a positive growth rate of 7.7% year over year. The company is expected to release its next quarterly results after the market closes on Wednesday, February 9.
According to Zacks, analysts expect PennantPark Floating Rate Capital to report annual earnings of $1.10 per share for the current fiscal year, with EPS estimates ranging from $1.08 to $1.11. For the next fiscal year, analysts expect the company to report earnings of $1.15 per share, with EPS estimates ranging from $1.12 to $1.18. Zacks Investment Research earnings per share averages are an average based on a survey of research analysts who provide coverage for PennantPark Floating Rate Capital.
PennantPark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly results on Wednesday, November 17. The asset manager reported earnings per share (EPS) of $0.28 for the quarter, beating the Zacks consensus estimate of $0.27 by $0.01. PennantPark Floating Rate Capital posted a net margin of 68.35% and a return on equity of 8.29%. The company posted revenue of $21.62 million for the quarter, versus analyst estimates of $21.31 million. In the same quarter a year earlier, the company had earned earnings per share of $0.27.
Separately, Zacks Investment Research upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Thursday.
Shares of PFLT traded down $0.30 in Friday trading, hitting $12.70. 1,667 shares of the company were traded, against an average volume of 221,411. The company’s 50-day simple moving average is $13.02 and its 200-day simple moving average is $13.06. PennantPark Floating Rate Capital has a 12-month low of $10.67 and a 12-month high of $13.92. The company has a market capitalization of $494.53 million, a price/earnings ratio of 8.73, a P/E/G ratio of 0.30 and a beta of 1.94. The company has a debt ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12.
The company also recently announced a monthly dividend, which will be paid on Tuesday, February 1. Investors of record on Tuesday, January 18 will receive a dividend of $0.095. This represents an annualized dividend of $1.14 and a dividend yield of 8.98%. The ex-dividend date is Friday, January 14. PennantPark Floating Rate Capital’s payout rate is currently 78.08%.
Several hedge funds and other institutional investors have recently changed their holdings of LTFPs. Sound Income Strategies LLC increased its holdings in PennantPark Floating Rate Capital by 2.6% during the fourth quarter. Sound Income Strategies LLC now owns 2,366,688 shares of the asset manager valued at $30,223,000 after purchasing an additional 59,715 shares last quarter. BlackRock Inc. increased its stake in PennantPark Floating Rate Capital by 16.4% in the third quarter. BlackRock Inc. now owns 271,536 shares of the asset manager valued at $3,473,000 after buying an additional 38,192 shares last quarter. Hennion & Walsh Asset Management Inc. increased its position in PennantPark Floating Rate Capital by 32.9% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 239,168 shares of the asset manager valued at $3,059,000 after acquiring an additional 59,243 shares during the period. Mackenzie Financial Corp increased its stake in PennantPark Floating Rate Capital by 16.2% during the third quarter. Mackenzie Financial Corp now owns 97,627 shares of the asset manager worth $1,249,000 after acquiring 13,593 more shares last quarter. Finally, Confluence Investment Management LLC increased its equity stake in PennantPark Floating Rate Capital by 1.3% during the third quarter. Confluence Investment Management LLC now owns 65,404 shares of the asset manager valued at $837,000 after acquiring an additional 844 shares during the period. Institutional investors and hedge funds hold 23.52% of the company’s shares.
PennantPark Capital Floating Rate Company Profile
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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