Equities analysts expect Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) to post sales of $19.92 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Pennantpark Floating Rate Capital’s earnings. The lowest sales estimate is $19.76 million and the highest is $20.07 million. Pennantpark Floating Rate Capital posted sales of $18.45 million during the same quarter last year, which would indicate a positive year over year growth rate of 8%. The business is scheduled to announce its next earnings results on Thursday, November 29th.

On average, analysts expect that Pennantpark Floating Rate Capital will report full year sales of $70.78 million for the current financial year, with estimates ranging from $70.62 million to $70.94 million. For the next fiscal year, analysts forecast that the business will report sales of $85.77 million per share, with estimates ranging from $82.33 million to $89.21 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Pennantpark Floating Rate Capital.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its earnings results on Wednesday, August 8th. The asset manager reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. The company had revenue of $19.53 million for the quarter, compared to analyst estimates of $17.93 million. Pennantpark Floating Rate Capital had a net margin of 48.08% and a return on equity of 7.86%.

Several research analysts have recently issued reports on the company. TheStreet raised Pennantpark Floating Rate Capital from a “c+” rating to a “b-” rating in a research note on Tuesday, June 12th. BidaskClub raised Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a research note on Saturday, June 16th. JPMorgan Chase & Co. lifted their price target on Pennantpark Floating Rate Capital from $7.50 to $8.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Maxim Group lifted their price target on Pennantpark Floating Rate Capital from $14.00 to $14.50 and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research raised Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, August 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $13.13.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Pennantpark Floating Rate Capital by 2.1% during the 1st quarter. BlackRock Inc. now owns 212,351 shares of the asset manager’s stock worth $2,780,000 after buying an additional 4,409 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Pennantpark Floating Rate Capital by 18.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 29,073 shares of the asset manager’s stock valued at $397,000 after purchasing an additional 4,562 shares during the last quarter. Van ECK Associates Corp raised its stake in Pennantpark Floating Rate Capital by 1.7% in the 2nd quarter. Van ECK Associates Corp now owns 291,319 shares of the asset manager’s stock valued at $3,979,000 after purchasing an additional 4,816 shares during the last quarter. Wedbush Securities Inc. raised its stake in Pennantpark Floating Rate Capital by 29.6% in the 1st quarter. Wedbush Securities Inc. now owns 34,319 shares of the asset manager’s stock valued at $449,000 after purchasing an additional 7,841 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Pennantpark Floating Rate Capital by 1.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 508,850 shares of the asset manager’s stock valued at $6,951,000 after purchasing an additional 8,586 shares during the last quarter. 33.31% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ PFLT traded up $0.05 during trading on Thursday, hitting $13.65. 90,600 shares of the company were exchanged, compared to its average volume of 186,603. The firm has a market capitalization of $527.30 million, a P/E ratio of 12.35 and a beta of 0.52. Pennantpark Floating Rate Capital has a 1 year low of $12.00 and a 1 year high of $14.65.

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 21st will be paid a dividend of $0.077 per share. This represents a $0.92 annualized dividend and a dividend yield of 6.77%. The ex-dividend date of this dividend is Monday, August 20th. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is presently 20.00%.

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.

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

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