PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Expected to Announce Earnings of $0.28 Per Share

Equities analysts predict that PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLTGet Rating) will post earnings of $0.28 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for PennantPark Floating Rate Capital’s earnings. PennantPark Floating Rate Capital posted earnings per share of $0.26 in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.7%. The company is expected to report its next quarterly earnings report after the market closes on Monday, January 1st.

On average, 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 $1.18. For the next year, analysts anticipate that the firm will report earnings of $1.16 per share, with EPS estimates ranging from $1.14 to $1.18. Zacks’ EPS calculations are an average based on a survey of research firms that follow PennantPark Floating Rate Capital.

PennantPark Floating Rate Capital (NASDAQ:PFLTGet Rating) last announced its earnings results on Wednesday, February 9th. The asset manager reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $26.34 million for the quarter, compared to the consensus estimate of $21.53 million. PennantPark Floating Rate Capital had a net margin of 50.76% and a return on equity of 8.80%. During the same period last year, the firm posted $0.26 earnings per share.

A number of brokerages recently weighed in on PFLT. TheStreet downgraded shares of PennantPark Floating Rate Capital from a “b-” rating to a “c” rating in a research note on Friday, February 11th. Zacks Investment Research raised shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, February 15th. Finally, StockNews.com initiated coverage on shares of PennantPark Floating Rate Capital in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, PennantPark Floating Rate Capital currently has a consensus rating of “Hold” and a consensus target price of $13.83.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its stake in shares of PennantPark Floating Rate Capital by 17.7% in the fourth quarter. Bank of America Corp DE now owns 5,146 shares of the asset manager’s stock worth $66,000 after buying an additional 775 shares during the period. Total Clarity Wealth Management Inc. increased its stake in shares of PennantPark Floating Rate Capital by 53.0% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,000 shares of the asset manager’s stock worth $51,000 after buying an additional 1,385 shares during the period. Raymond James & Associates increased its stake in shares of PennantPark Floating Rate Capital by 13.6% in the third quarter. Raymond James & Associates now owns 12,635 shares of the asset manager’s stock worth $162,000 after buying an additional 1,512 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of PennantPark Floating Rate Capital by 3.7% in the third quarter. Janney Montgomery Scott LLC now owns 45,587 shares of the asset manager’s stock worth $583,000 after buying an additional 1,623 shares during the period. Finally, LPL Financial LLC increased its stake in shares of PennantPark Floating Rate Capital by 5.1% in the third quarter. LPL Financial LLC now owns 34,910 shares of the asset manager’s stock worth $446,000 after buying an additional 1,704 shares during the period. 23.70% of the stock is currently owned by institutional investors.

Shares of PFLT opened at $13.89 on Tuesday. The firm’s 50 day simple moving average is $13.25 and its 200 day simple moving average is $13.14. The company has a market capitalization of $543.79 million, a P/E ratio of 11.97 and a beta of 1.86. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.12 and a quick ratio of 0.12. PennantPark Floating Rate Capital has a 1-year low of $11.74 and a 1-year high of $14.00.

The company also recently announced a monthly dividend, which will be paid on Monday, May 2nd. Investors of record on Monday, April 18th will be paid a $0.095 dividend. This represents a $1.14 annualized dividend and a dividend yield of 8.21%. The ex-dividend date of this dividend is Thursday, April 14th. PennantPark Floating Rate Capital’s payout ratio is 98.28%.

PennantPark Floating Rate Capital Company Profile (Get Rating)

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.

See Also

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.