Pennantpark Floating Rate Capital (PFLT) Set to Announce Earnings on Wednesday

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Pennantpark Floating Rate Capital (NASDAQ:PFLT) is scheduled to announce its earnings results after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of $0.30 per share for the quarter.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings data on Wednesday, May 8th. The asset manager reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $23.01 million during the quarter, compared to the consensus estimate of $22.99 million. Pennantpark Floating Rate Capital had a net margin of 17.80% and a return on equity of 8.80%. On average, analysts expect Pennantpark Floating Rate Capital to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of NASDAQ:PFLT opened at $11.26 on Tuesday. The company has a market capitalization of $450.12 million, a P/E ratio of 10.62 and a beta of 0.73. Pennantpark Floating Rate Capital has a 52 week low of $11.05 and a 52 week high of $13.85. The business has a 50 day simple moving average of $11.62.

The firm also recently disclosed a monthly dividend, which was paid on Thursday, August 1st. Investors of record on Thursday, July 18th were paid a $0.095 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 10.12%. The ex-dividend date was Wednesday, July 17th. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is 107.55%.

PFLT has been the topic of a number of recent analyst reports. BidaskClub raised Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods downgraded Pennantpark Floating Rate Capital from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $14.00 to $13.00 in a research report on Wednesday, May 8th. ValuEngine downgraded Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. LADENBURG THALM/SH SH downgraded Pennantpark Floating Rate Capital from a “buy” rating to a “neutral” rating in a research report on Monday, May 13th. Finally, Zacks Investment Research downgraded Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Pennantpark Floating Rate Capital currently has an average rating of “Hold” and a consensus price target of $13.63.

In other Pennantpark Floating Rate Capital news, insider Arthur H. Penn purchased 9,000 shares of Pennantpark Floating Rate Capital stock in a transaction dated Friday, May 10th. The shares were acquired at an average cost of $12.15 per share, with a total value of $109,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Samuel L. Katz purchased 20,000 shares of Pennantpark Floating Rate Capital stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $12.11 per share, for a total transaction of $242,200.00. Following the completion of the transaction, the director now owns 146,900 shares of the company’s stock, valued at approximately $1,778,959. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 62,000 shares of company stock worth $749,945. Insiders own 1.00% of the company’s stock.

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.

Further Reading: Asset Allocation, Balancing Your Investments

Earnings History for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

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