PennantPark Floating Rate Capital (NYSE:PFLT – Get Free Report) posted its quarterly earnings results on Monday. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01), FiscalAI reports. The business had revenue of $22.73 million during the quarter. PennantPark Floating Rate Capital had a return on equity of 10.16% and a net margin of 18.53%.
PennantPark Floating Rate Capital Trading Up 0.3%
Shares of NYSE PFLT traded up $0.03 during midday trading on Wednesday, hitting $7.51. The stock had a trading volume of 92,413 shares, compared to its average volume of 1,152,738. The firm has a market cap of $745.64 million, a P/E ratio of 14.74 and a beta of 0.76. PennantPark Floating Rate Capital has a fifty-two week low of $6.83 and a fifty-two week high of $10.52. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.18 and a quick ratio of 0.18. The company’s 50-day simple moving average is $7.39 and its 200 day simple moving average is $8.16.
PennantPark Floating Rate Capital Cuts Dividend
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 12.8%. The ex-dividend date is Friday, August 14th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 154.84%.
Institutional Trading of PennantPark Floating Rate Capital
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a report on Wednesday, August 5th. Truist Financial dropped their price objective on PennantPark Floating Rate Capital from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Citizens Jmp reduced their target price on shares of PennantPark Floating Rate Capital from $11.00 to $10.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Finally, Zacks Research raised shares of PennantPark Floating Rate Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.80.
Read Our Latest Research Report on PFLT
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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.
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