Zacks: Analysts Expect PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Will Post Quarterly Sales of $25.00 Million

Wall Street analysts expect PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLTGet Rating) to announce sales of $25.00 million for the current quarter, Zacks reports. Two analysts have provided estimates for PennantPark Floating Rate Capital’s earnings. The highest sales estimate is $25.24 million and the lowest is $24.75 million. PennantPark Floating Rate Capital posted sales of $20.91 million during the same quarter last year, which suggests a positive year-over-year growth rate of 19.6%. The firm is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that PennantPark Floating Rate Capital will report full-year sales of $101.52 million for the current fiscal year, with estimates ranging from $100.63 million to $102.41 million. For the next fiscal year, analysts anticipate that the business will post sales of $105.43 million, with estimates ranging from $100.29 million to $110.57 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow PennantPark Floating Rate Capital.

PennantPark Floating Rate Capital (NASDAQ:PFLTGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The asset manager reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $24.64 million during the quarter, compared to analysts’ expectations of $23.73 million. PennantPark Floating Rate Capital had a net margin of 43.20% and a return on equity of 8.97%.

A number of equities analysts have weighed in on PFLT shares. TheStreet cut shares of PennantPark Floating Rate Capital from a “b-” rating to a “c” rating in a research report on Friday, February 11th. StockNews.com lowered shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Finally, Zacks Investment Research upgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $13.50.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Total Clarity Wealth Management Inc. raised its stake in PennantPark Floating Rate Capital by 53.0% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,000 shares of the asset manager’s stock worth $51,000 after acquiring an additional 1,385 shares during the period. Bank of America Corp DE raised its stake in PennantPark Floating Rate Capital by 17.7% during the fourth quarter. Bank of America Corp DE now owns 5,146 shares of the asset manager’s stock worth $66,000 after acquiring an additional 775 shares during the period. BNP Paribas Arbitrage SA acquired a new stake in PennantPark Floating Rate Capital during the first quarter worth about $102,000. Doman Group LLC acquired a new stake in PennantPark Floating Rate Capital during the fourth quarter worth about $136,000. Finally, Caxton Associates LP bought a new position in PennantPark Floating Rate Capital in the 3rd quarter worth about $143,000. Hedge funds and other institutional investors own 18.16% of the company’s stock.

NASDAQ:PFLT opened at $11.44 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a 50-day moving average of $13.08 and a two-hundred day moving average of $13.05. The stock has a market cap of $472.62 million, a P/E ratio of 11.00 and a beta of 1.73. PennantPark Floating Rate Capital has a 1-year low of $11.09 and a 1-year high of $14.38.

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, June 1st. Investors of record on Wednesday, May 18th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Tuesday, May 17th. This represents a $1.14 annualized dividend and a yield of 9.97%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 109.62%.

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.

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

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