PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT – Get Rating) – Oppenheimer raised its third-quarter 2022 EPS estimates for PennantPark Floating Rate Capital shares in a research note released Thursday, May 5. Oppenheimer analyst Penn now expects the asset manager to earn $0.29 per share for the quarter, up from its previous estimate of $0.28. Oppenheimer also released estimates for PennantPark Floating Rate Capital’s fiscal year 2022 earnings at $1.19 EPS and fiscal year 2023 earnings at $1.15 EPS.
Several other stock analysts have also recently weighed in on the company. Zacks Investment Research upgraded PennantPark Floating Rate Capital from a “buy” rating to a “hold” rating in a Wednesday, April 20 report. TheStreet lowered PennantPark Floating Rate Capital from a “b-” rating to a “c” rating in a Friday, February 11 research note. Finally, StockNews.com began covering PennantPark Floating Rate Capital in a research note on Thursday, March 31. They issued a “hold” rating on the stock. Four analysts rated the stock with a holding rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.83.
Shares of NASDAQ PFLT opened at $12.88 on Monday. The stock has a market capitalization of $504.26 million, a PE ratio of 12.38 and a beta of 1.73. The company has a debt ratio of 0.45, a current ratio of 0.12 and a quick ratio of 0.12. The company has a fifty-day moving average price of $13.39 and a two-hundred-day moving average price of $13.19. PennantPark Floating Rate Capital has a fifty-two week low of $11.74 and a fifty-two week high of $14.38. PennantPark Floating Rate Capital (NASDAQ:PFLT – Get Rating) last reported quarterly earnings data on Wednesday, February 9. The asset manager reported earnings per share of $0.33 for the quarter, beating the consensus estimate of $0.28 by $0.05. The company posted revenue of $26.34 million in the quarter, compared to $21.53 million expected by analysts. PennantPark Floating Rate Capital had a return on equity of 9.09% and a net margin of 43.20%. During the same period of the previous year, the company achieved EPS of $0.26.
The company also recently announced a monthly dividend, which will be paid on Wednesday, June 1. Investors of record on Wednesday, May 18 will receive a dividend of $0.095 per share. The ex-dividend date is Tuesday, May 17. This represents a dividend of $1.14 on an annualized basis and a yield of 8.85%. PennantPark Floating Rate Capital’s dividend payout ratio is currently 109.62%.
Several hedge funds and other institutional investors have recently increased or reduced their stake in PFLT. Mid American Wealth Advisory Group Inc. acquired a new position in PennantPark Floating Rate Capital during Q4 for a value of approximately $1,949,000. Sound Income Strategies LLC increased its holdings of PennantPark Floating Rate Capital shares by 2.6% in the fourth quarter. Sound Income Strategies LLC now owns 2,366,688 shares of the asset manager valued at $30,223,000 after acquiring an additional 59,715 shares last quarter. Hennion & Walsh Asset Management Inc. increased its holdings of PennantPark Floating Rate Capital shares by 32.9% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 239,168 shares of the asset manager valued at $3,059,000 after acquiring an additional 59,243 shares last quarter. Invesco Ltd. bought a new position in PennantPark Floating Rate Capital during the fourth quarter, valued at $673,000. Finally, Van ECK Associates Corp increased its holdings in PennantPark Floating Rate Capital by 8.1% during the fourth quarter. Van ECK Associates Corp now owns 593,836 shares of the asset manager valued at $7,584,000 after purchasing an additional 44,469 shares during the period. Hedge funds and other institutional investors hold 18.16% of the company’s shares.
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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