PennantPark Floating Rate Capital Ltd. (PFLT) Plans $0.10 Monthly Dividend
PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declared a monthly dividend on Tuesday, December 5th, Wall Street Journal reports. Stockholders of record on Tuesday, December 26th will be given a dividend of 0.095 per share by the asset manager on Tuesday, January 2nd. This represents a $1.14 annualized dividend and a dividend yield of 8.24%. The ex-dividend date of this dividend is Friday, December 22nd.
PennantPark Floating Rate Capital (PFLT) traded down $0.01 during mid-day trading on Tuesday, hitting $13.83. 337,200 shares of the stock traded hands, compared to its average volume of 218,405. PennantPark Floating Rate Capital has a 1 year low of $13.24 and a 1 year high of $14.65. The stock has a market capitalization of $532.56, a price-to-earnings ratio of 12.58 and a beta of 0.59.
PennantPark Floating Rate Capital (NASDAQ:PFLT) last released its earnings results on Thursday, November 30th. The asset manager reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). PennantPark Floating Rate Capital had a net margin of 61.05% and a return on equity of 7.66%. The business had revenue of $18.45 million for the quarter, compared to analysts’ expectations of $19.40 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. PennantPark Floating Rate Capital’s revenue for the quarter was up 19.8% on a year-over-year basis. equities research analysts anticipate that PennantPark Floating Rate Capital will post 1.13 earnings per share for the current year.
A number of brokerages recently weighed in on PFLT. Zacks Investment Research lowered shares of PennantPark Floating Rate Capital from a “hold” rating to a “strong sell” rating in a report on Tuesday. ValuEngine upgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Friday. Maxim Group restated a “buy” rating and issued a $14.75 price objective on shares of PennantPark Floating Rate Capital in a report on Friday. Finally, Keefe, Bruyette & Woods set a $16.00 price objective on shares of PennantPark Floating Rate Capital and gave the stock a “buy” rating in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. PennantPark Floating Rate Capital currently has an average rating of “Buy” and a consensus target price of $15.08.
TRADEMARK VIOLATION WARNING: “PennantPark Floating Rate Capital Ltd. (PFLT) Plans $0.10 Monthly Dividend” was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/pennantpark-floating-rate-capital-ltd-pflt-plans-0-10-monthly-dividend/1746018.html.
PennantPark Floating Rate Capital Company Profile
PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.
Receive News & Ratings for PennantPark Floating Rate Capital Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennantPark Floating Rate Capital Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.