PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) has received an average recommendation of “Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $14.90.

A number of research analysts have recently commented on PFLT shares. Zacks Investment Research cut PennantPark Floating Rate Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $15.50 price target on shares of PennantPark Floating Rate Capital in a research report on Thursday, August 31st. Finally, BidaskClub raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th.

Several large investors have recently added to or reduced their stakes in PFLT. Envestnet Asset Management Inc. raised its stake in shares of PennantPark Floating Rate Capital by 2.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 9,621 shares of the asset manager’s stock valued at $134,000 after purchasing an additional 242 shares during the period. CIBC World Markets Inc. bought a new stake in shares of PennantPark Floating Rate Capital during the 2nd quarter valued at $202,000. GSA Capital Partners LLP bought a new stake in shares of PennantPark Floating Rate Capital during the 2nd quarter valued at $207,000. Sigma Planning Corp bought a new stake in shares of PennantPark Floating Rate Capital during the 2nd quarter valued at $215,000. Finally, First Allied Advisory Services Inc. raised its stake in shares of PennantPark Floating Rate Capital by 1.6% during the 2nd quarter. First Allied Advisory Services Inc. now owns 19,160 shares of the asset manager’s stock valued at $269,000 after purchasing an additional 299 shares during the period. Institutional investors own 30.40% of the company’s stock.

Shares of PennantPark Floating Rate Capital (PFLT) traded down $0.05 during midday trading on Thursday, hitting $13.78. The stock had a trading volume of 363,445 shares, compared to its average volume of 449,967. PennantPark Floating Rate Capital has a 1 year low of $12.35 and a 1 year high of $14.65. The stock has a market cap of $447.57, a PE ratio of 12.64 and a beta of 0.60.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings results on Tuesday, August 8th. The asset manager reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). PennantPark Floating Rate Capital had a net margin of 73.28% and a return on equity of 7.26%. The firm had revenue of $15.19 million for the quarter, compared to analysts’ expectations of $15.17 million. equities analysts predict that PennantPark Floating Rate Capital will post 1.14 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which was paid on Wednesday, November 1st. Investors of record on Thursday, October 19th were paid a dividend of $0.095 per share. The ex-dividend date was Wednesday, October 18th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 8.27%. PennantPark Floating Rate Capital’s payout ratio is 78.08%.

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About PennantPark Floating Rate Capital

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.

Analyst Recommendations for PennantPark Floating Rate Capital (NASDAQ:PFLT)

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