PennantPark Floating Rate Capital (NYSE:PFLT) Issues Quarterly Earnings Results

PennantPark Floating Rate Capital (NYSE:PFLT) announced its earnings results on Monday. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03), FiscalAI reports. The firm had revenue of $12.72 million for the quarter. PennantPark Floating Rate Capital had a net margin of 25.39% and a return on equity of 9.91%.

PennantPark Floating Rate Capital Stock Performance

Shares of PFLT opened at $9.45 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.15 and a quick ratio of 0.15. The company’s 50-day moving average is $9.38. PennantPark Floating Rate Capital has a 52 week low of $8.40 and a 52 week high of $11.50. The firm has a market capitalization of $937.63 million, a price-to-earnings ratio of 12.95 and a beta of 0.76.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

PennantPark Floating Rate Capital Company Profile

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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.