Analysts expect PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) reports sales of $21.53 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts released earnings estimates for PennantPark Floating Rate Capital, with the lowest sales estimate at $21.30 million and the highest estimate at $21.75 million. PennantPark Floating Rate Capital reported sales of $20.73 million in the same quarter last year, suggesting a positive year-over-year growth rate of 3.9%. The company is expected to announce its next earnings report after the market closes on Wednesday, February 9.
On average, analysts expect PennantPark Floating Rate Capital to report annual sales of $88.52 million for the current fiscal year, with estimates ranging from $86.54 million to $90.50 million. dollars. For the next fiscal year, analysts expect the company to post sales of $95.10 million, with estimates ranging from $88.82 million to $101.38 million. Zacks Investment Research sales averages are an average average based on a survey of analysts who provide coverage for PennantPark Floating Rate Capital.
PennantPark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly results on Wednesday, November 17. The asset manager reported earnings per share (EPS) of $0.28 for the quarter, beating analyst consensus estimates of $0.27 by $0.01. PennantPark Floating Rate Capital posted a net margin of 68.35% and a return on equity of 8.29%. The company posted revenue of $21.62 million in the quarter, versus analyst estimates of $21.31 million. In the same period a year earlier, the company earned earnings per share of $0.27.
Separately, Zacks Investment Research upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research rating on Thursday.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in shares of PennantPark Floating Rate Capital by 116.0% in Q2. Mackenzie Financial Corp now owns 84,034 shares of the asset manager valued at $1,069,000 after acquiring an additional 45,132 shares in the last quarter. BlackRock Inc. increased its stake in shares of PennantPark Floating Rate Capital by 10.7% in Q2. BlackRock Inc. now owns 233,344 shares of the asset manager valued at $2,968,000 after acquiring an additional 22,623 shares in the last quarter. Advisory Services Network LLC increased its stake in PennantPark Floating Rate Capital shares by 57.5% in Q2. Advisory Services Network LLC now owns 15,963 shares of the asset manager valued at $203,000 after acquiring an additional 5,827 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of PennantPark Floating Rate Capital in Q2, valued at approximately $157,000. Finally, the Royal Bank of Canada increased its stake in the shares of PennantPark Floating Rate Capital by 10.1% in the 2nd quarter. Royal Bank of Canada now owns 24,750 shares of the asset manager valued at $315,000 after acquiring an additional 2,262 shares in the last quarter. Hedge funds and other institutional investors hold 23.52% of the company’s shares.
Shares of PFLT opened at $12.54 on Friday. The stock has a fifty-day moving average price of $12.99 and a 200-day moving average price of $13.05. PennantPark Floating Rate Capital has a one-year minimum of $10.67 and a one-year maximum of $13.92. The stock has a market capitalization of $488.30 million, a P/E ratio of 8.59, a price-to-earnings growth ratio of 0.30 and a beta of 1.94. The company has a debt ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12.
The company also recently announced a monthly dividend, which will be paid on Tuesday, February 1. Investors of record on Tuesday, January 18 will receive a dividend of $0.095 per share. This represents an annualized dividend of $1.14 and a yield of 9.09%. The ex-dividend date is Friday, January 14. The payout rate of PennantPark Floating Rate Capital is 78.08%.
About PennantPark Capital Floating Rate
PennantPark Floating Rate Capital Ltd is a non-diversified, closed-end investment company that invests in small capitalization and mid-market public companies located in the United States and, to a lesser extent, in non-US companies. The fund invests in equity securities such as preferred shares, common shares, warrants or options received through leveraged investments or through direct investments with an investment size of 2 to 20 million dollars.
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