Brokerages Expect Pennantpark Floating Rate Capital Ltd (PFLT) to Post $0.30 Earnings Per Share

Wall Street brokerages forecast that Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) will announce earnings of $0.30 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Pennantpark Floating Rate Capital’s earnings. Pennantpark Floating Rate Capital posted earnings per share of $0.24 in the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The business is expected to issue its next earnings results on Thursday, May 9th.

According to Zacks, analysts expect that Pennantpark Floating Rate Capital will report full year earnings of $1.18 per share for the current year, with EPS estimates ranging from $1.17 to $1.19. For the next financial year, analysts expect that the company will report earnings of $1.19 per share, with EPS estimates ranging from $1.12 to $1.27. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Pennantpark Floating Rate Capital.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings data on Wednesday, February 6th. The asset manager reported $0.30 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The firm had revenue of $23.18 million for the quarter, compared to the consensus estimate of $22.06 million. Pennantpark Floating Rate Capital had a net margin of 45.40% and a return on equity of 8.24%.

Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. BidaskClub raised shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Finally, Maxim Group reissued a “buy” rating and issued a $14.50 target price on shares of Pennantpark Floating Rate Capital in a research report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Pennantpark Floating Rate Capital presently has an average rating of “Hold” and an average price target of $14.50.

Institutional investors have recently added to or reduced their stakes in the stock. Wedbush Securities Inc. increased its holdings in Pennantpark Floating Rate Capital by 2.8% in the 4th quarter. Wedbush Securities Inc. now owns 34,392 shares of the asset manager’s stock worth $398,000 after buying an additional 925 shares during the period. Taylor Frigon Capital Management LLC boosted its holdings in shares of Pennantpark Floating Rate Capital by 1.3% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 111,471 shares of the asset manager’s stock valued at $1,290,000 after acquiring an additional 1,408 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Pennantpark Floating Rate Capital by 7.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,792 shares of the asset manager’s stock worth $252,000 after acquiring an additional 1,590 shares during the period. Pin Oak Investment Advisors Inc. increased its stake in shares of Pennantpark Floating Rate Capital by 1.0% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 217,801 shares of the asset manager’s stock worth $2,520,000 after acquiring an additional 2,248 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Pennantpark Floating Rate Capital by 11.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 27,840 shares of the asset manager’s stock worth $322,000 after purchasing an additional 2,881 shares during the last quarter. 36.01% of the stock is owned by hedge funds and other institutional investors.

Pennantpark Floating Rate Capital stock traded up $0.17 during mid-day trading on Friday, reaching $12.98. 116,819 shares of the company traded hands, compared to its average volume of 133,605. Pennantpark Floating Rate Capital has a fifty-two week low of $11.05 and a fifty-two week high of $14.12. The firm has a market capitalization of $496.67 million, a price-to-earnings ratio of 12.25 and a beta of 0.71.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 17th will be paid a $0.095 dividend. This represents a $1.14 annualized dividend and a dividend yield of 8.78%. The ex-dividend date of this dividend is Tuesday, April 16th. Pennantpark Floating Rate Capital’s payout ratio is 71.70%.

Pennantpark Floating Rate Capital Company Profile

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.

Read More: Beta

Get a free copy of the Zacks research report on Pennantpark Floating Rate Capital (PFLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

Receive News & Ratings for Pennantpark Floating Rate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennantpark Floating Rate Capital and related companies with MarketBeat.com's FREE daily email newsletter.