PennantPark Floating Rate Capital Ltd. (PFLT) to Issue Monthly Dividend of $0.08 on July 1st

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) declared a monthly dividend on Tuesday, June 2nd. Stockholders of record on Monday, June 15th will be given a dividend of 0.0833 per share on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date of this dividend is Monday, June 15th.

PennantPark Floating Rate Capital has increased its dividend payment by an average of 0.0%per year over the last three years.

PennantPark Floating Rate Capital Stock Performance

Shares of PennantPark Floating Rate Capital stock opened at $7.99 on Friday. 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’s fifty day moving average price is $8.47 and its 200-day moving average price is $8.77. The firm has a market cap of $792.37 million, a P/E ratio of 12.88 and a beta of 0.75. PennantPark Floating Rate Capital has a 12 month low of $7.68 and a 12 month high of $10.88.

PennantPark Floating Rate Capital (NYSE:PFLT) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $44.81 million during the quarter. PennantPark Floating Rate Capital had a return on equity of 9.95% and a net margin of 23.08%. On average, equities research analysts expect that PennantPark Floating Rate Capital will post 1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

PFLT has been the subject of several analyst reports. Truist Financial reduced their price target on PennantPark Floating Rate Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Wall Street Zen upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Zacks Research cut PennantPark Floating Rate Capital from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Citizens Jmp lowered their price target on PennantPark Floating Rate Capital from $11.00 to $10.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.