PennantPark Floating Rate Capital Ltd. (PFLT) To Go Ex-Dividend on October 15th

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) announced a monthly dividend on Friday, October 2nd. Investors of record on Thursday, October 15th will be paid a dividend of $0.08 per share on Monday, November 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 14.4%. The ex-dividend date is Thursday, October 15th.

PennantPark Floating Rate Capital Price Performance

Shares of PFLT opened at $6.67 on Tuesday. PennantPark Floating Rate Capital has a 12-month low of $6.58 and a 12-month high of $9.75. The business has a 50-day simple moving average of $7.18 and a two-hundred day simple moving average of $7.68. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.94. The stock has a market cap of $662.29 million, a PE ratio of 13.09 and a beta of 0.80.

PennantPark Floating Rate Capital (NYSE:PFLT) last posted its earnings results on Monday, August 10th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). PennantPark Floating Rate Capital had a net margin of 18.53% and a return on equity of 10.24%. The firm had revenue of $66.09 million during the quarter. Analysts anticipate that PennantPark Floating Rate Capital will post 1.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PFLT shares. UBS Group reiterated a “buy” rating and issued a $8.50 price objective (down from $9.50) on shares of PennantPark Floating Rate Capital in a report on Friday. Weiss Ratings lowered shares of PennantPark Floating Rate Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Finally, Zacks Research upgraded shares of PennantPark Floating Rate Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, PennantPark Floating Rate Capital currently has an average rating of “Moderate Buy” and an average target price of $9.60.

PennantPark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) is a business development company that invests in privately held, middle-market businesses. The company seeks to generate current income and preserve capital primarily through investments in floating-rate, senior secured loans.

PennantPark Floating Rate Capital’s portfolio may also include second-lien loans, subordinated debt and equity-related investments. Its investments are generally made in companies across a range of industries, with an emphasis on providing financing to businesses that may not have access to traditional public debt markets.

The company was established in 2011 and is externally managed by PennantPark Investment Advisers, LLC, an affiliate of PennantPark Investment Corporation.