PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) to Issue $0.08 Monthly Dividend

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) declared a monthly dividend on Tuesday, June 2nd. Investors of record on Monday, June 15th will be paid a dividend of 0.0833 per share on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 12.0%. The ex-dividend date of this dividend is Monday, June 15th.

PennantPark Floating Rate Capital has raised its dividend by an average of 0.0%annually over the last three years.

PennantPark Floating Rate Capital Stock Up 0.0%

Shares of PFLT stock opened at $8.33 on Wednesday. The stock has a 50 day moving average of $8.45 and a 200 day moving average of $8.83. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.92. The stock has a market cap of $826.70 million, a P/E ratio of 13.44 and a beta of 0.75. PennantPark Floating Rate Capital has a twelve month low of $7.68 and a twelve month high of $10.88.

PennantPark Floating Rate Capital (NYSE:PFLT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $44.81 million for the quarter. PennantPark Floating Rate Capital had a net margin of 23.08% and a return on equity of 9.95%. As a group, sell-side analysts expect that PennantPark Floating Rate Capital will post 1.08 EPS for the current year.

Wall Street Analyst Weigh In

PFLT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of PennantPark Floating Rate Capital from $10.50 to $10.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Maxim Group set a $10.50 price objective on shares of PennantPark Floating Rate Capital in a research report on Wednesday, February 11th. Citizens Jmp decreased their price objective on shares of PennantPark Floating Rate Capital from $11.00 to $10.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Zacks Research downgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Finally, Truist Financial decreased their price objective on shares of PennantPark Floating Rate Capital from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, PennantPark Floating Rate Capital currently has an average rating of “Moderate Buy” and an average target price of $9.80.

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.