Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) declared a monthly dividend on Monday, January 8th, Wall Street Journal reports. Shareholders of record on Thursday, January 18th will be given a dividend of 0.095 per share by the asset manager on Thursday, February 1st. This represents a $1.14 dividend on an annualized basis and a yield of 8.36%. The ex-dividend date of this dividend is Wednesday, January 17th.
Pennantpark Floating Rate Capital (NASDAQ PFLT) remained flat at $$13.63 during mid-day trading on Monday. The company’s stock had a trading volume of 251,081 shares, compared to its average volume of 330,540. Pennantpark Floating Rate Capital has a 52 week low of $13.24 and a 52 week high of $14.65. The stock has a market capitalization of $524.48, a P/E ratio of 11.36 and a beta of 0.59.
Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings data on Thursday, November 30th. The asset manager reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). Pennantpark Floating Rate Capital had a return on equity of 7.66% and a net margin of 61.05%. The company had revenue of $18.45 million for the quarter, compared to the consensus estimate of $19.40 million. During the same period last year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. equities analysts anticipate that Pennantpark Floating Rate Capital will post 1.08 earnings per share for the current year.
PFLT has been the subject of a number of research reports. Zacks Investment Research downgraded Pennantpark Floating Rate Capital from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 5th. Maxim Group reissued a “buy” rating and set a $14.75 target price on shares of Pennantpark Floating Rate Capital in a report on Friday, December 1st. ValuEngine raised Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Keefe, Bruyette & Woods set a $16.00 target price on Pennantpark Floating Rate Capital and gave the stock a “buy” rating in a report on Thursday, October 5th. Finally, BidaskClub raised Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $15.30.
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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.
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