Pennantpark Floating Rate Capital Ltd (PFLT) Expected to Post Quarterly Sales of $22.50 Million

Wall Street analysts expect that Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) will announce sales of $22.50 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Pennantpark Floating Rate Capital’s earnings. The lowest sales estimate is $21.80 million and the highest is $23.19 million. Pennantpark Floating Rate Capital reported sales of $16.50 million during the same quarter last year, which indicates a positive year over year growth rate of 36.4%. The company is expected to announce its next earnings report on Thursday, May 9th.

According to Zacks, analysts expect that Pennantpark Floating Rate Capital will report full year sales of $91.54 million for the current financial year, with estimates ranging from $87.12 million to $95.95 million. For the next financial year, analysts expect that the business will post sales of $100.47 million, with estimates ranging from $87.02 million to $113.92 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Pennantpark Floating Rate Capital.

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

A number of equities analysts recently issued reports on the company. BidaskClub upgraded Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Zacks Investment Research cut Pennantpark Floating Rate Capital from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 22nd. ValuEngine upgraded Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Maxim Group restated a “buy” rating and issued a $14.50 target price on shares of Pennantpark Floating Rate Capital in a report on Thursday, February 7th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $14.50.

Shares of NASDAQ PFLT opened at $13.19 on Thursday. The firm has a market capitalization of $508.30 million, a P/E ratio of 12.44 and a beta of 0.72. Pennantpark Floating Rate Capital has a 52-week low of $11.05 and a 52-week high of $14.12.

The business also recently announced a monthly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 14th will be issued a $0.016 dividend. This represents a $0.19 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Wednesday, February 13th. Pennantpark Floating Rate Capital’s payout ratio is 81.13%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wedbush Securities Inc. grew its holdings in shares of 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 acquiring an additional 925 shares during the last quarter. Taylor Frigon Capital Management LLC grew 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 worth $1,290,000 after acquiring an additional 1,408 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Pennantpark Floating Rate Capital by 7.9% in the 4th 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 last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Pennantpark Floating Rate Capital by 11.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 27,840 shares of the asset manager’s stock worth $322,000 after acquiring an additional 2,881 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Pennantpark Floating Rate Capital by 2.1% in the 3rd quarter. Legal & General Group Plc now owns 150,628 shares of the asset manager’s stock worth $1,982,000 after acquiring an additional 3,152 shares during the last quarter. Institutional investors and hedge funds own 34.60% of the company’s stock.

About Pennantpark Floating Rate Capital

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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