PennantPark Floating Rate Capital (NASDAQ:PFLT – Get Rating) is set to release earnings data after market close on Wednesday, May 4. Analysts expect PennantPark Floating Rate Capital to post earnings of $0.28 per share for the quarter.
PennantPark Floating Rate Capital (NASDAQ:PFLT – Get Rating) last reported results on Wednesday, February 9. The asset manager reported earnings per share of $0.33 for the quarter, beating the Zacks consensus estimate of $0.28 by $0.05. The company posted revenue of $26.34 million in the quarter, compared to analyst estimates 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 of the previous year, the company achieved EPS of $0.26. On average, analysts expect PennantPark Floating Rate Capital to post EPS of $1 for the current fiscal year and EPS of $1 for the next fiscal year.
Shares of NASDAQ PFLT opened at $13.41 on Wednesday. The company has a market capitalization of $525.01 million, a PE ratio of 11.56 and a beta of 1.86. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt ratio of 0.45. PennantPark Floating Rate Capital has a 1-year minimum of $11.74 and a 1-year maximum of $14.38. The company has a fifty-day moving average price of $13.35 and a 200-day moving average price of $13.20.
The company also recently announced a monthly dividend, which will be paid on Monday, May 2. Investors of record on Monday, April 18 will receive a dividend of $0.095. This represents a dividend of $1.14 on an annualized basis and a yield of 8.50%. The ex-date of this dividend is Thursday, April 14. PennantPark Floating Rate Capital’s payout rate is currently 98.28%.
A number of large investors have recently changed their holdings of LTFPs. LPL Financial LLC increased its stake in PennantPark Floating Rate Capital by 5.1% in Q3. LPL Financial LLC now owns 34,910 shares of the asset manager valued at $446,000 after buying an additional 1,704 shares in the last quarter. UBS Group AG increased its stake in PennantPark Floating Rate Capital by 7.1% in the third quarter. UBS Group AG now owns 52,939 shares of the asset manager valued at $677,000 after buying 3,517 additional shares in the last quarter. Bank of America Corp DE increased its stake in PennantPark Floating Rate Capital by 17.7% in Q4. Bank of America Corp DE now owns 5,146 shares of the asset manager valued at $66,000 after buying an additional 775 shares in the last quarter. Invesco Ltd. acquired a new stake in PennantPark Floating Rate Capital in Q4, valued at approximately $673,000. Finally, Stifel Financial Corp increased its stake in PennantPark Floating Rate Capital by 6.0% in the 4th quarter. Stifel Financial Corp now owns 84,330 shares of the asset manager valued at $1,077,000 after buying an additional 4,781 shares in the last quarter. Institutional investors and hedge funds hold 23.70% of the company’s shares.
A number of research firms have recently commented on the LRFP. StockNews.com began covering PennantPark Floating Rate Capital shares in a research note on Thursday, March 31. They set a “hold” rating for the company. Zacks Investment Research downgraded shares of PennantPark Floating Rate Capital from a “buy” rating to a “hold” rating in a Wednesday, April 20 research rating. Finally, TheStreet downgraded shares of PennantPark Floating Rate Capital from a “b-” rating to a “c” rating in a Friday, February 11 research note. According to data from MarketBeat.com, PennantPark Floating Rate Capital currently has an average rating of “Hold” and a consensus target price of $13.83.
PennantPark Capital Floating Rate Company Profile (Get a rating)
PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct investments, debt, stocks and loans. The fund seeks to invest through floating rate loans in public, private, mid-market companies with low capitalization or small market capitalization. It invests mainly in the United States and, to a lesser extent, outside the United States
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