Analysts Anticipate Pennantpark Floating Rate Capital Ltd (PFLT) to Announce $0.30 Earnings Per Share

Wall Street brokerages expect Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) to post $0.30 earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for Pennantpark Floating Rate Capital’s earnings. Pennantpark Floating Rate Capital reported earnings per share of $0.24 in the same quarter last year, which suggests a positive year over year growth rate of 25%. The company is expected to announce its next earnings report after the market closes on Wednesday, May 8th.

On average, analysts expect that Pennantpark Floating Rate Capital will report full year earnings of $1.18 per share for the current financial year, with EPS estimates ranging from $1.17 to $1.19. For the next financial year, analysts expect that the company will post earnings of $1.19 per share, with EPS estimates ranging from $1.12 to $1.27. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Pennantpark Floating Rate Capital.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings data on Wednesday, February 6th. The asset manager reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $23.18 million during the quarter, compared to the consensus estimate of $22.06 million. Pennantpark Floating Rate Capital had a net margin of 45.40% and a return on equity of 8.24%.

Several analysts have recently commented on PFLT shares. Zacks Investment Research downgraded shares of Pennantpark Floating Rate Capital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 22nd. Maxim Group reaffirmed a “buy” rating and set a $14.50 price objective on shares of Pennantpark Floating Rate Capital in a research report on Thursday, February 7th. Finally, BidaskClub downgraded shares of Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $14.50.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wedbush Securities Inc. grew its position in Pennantpark Floating Rate Capital by 2.8% in the 4th quarter. Wedbush Securities Inc. now owns 34,392 shares of the asset manager’s stock valued at $398,000 after purchasing an additional 925 shares during the period. Taylor Frigon Capital Management LLC grew its position in Pennantpark Floating Rate Capital by 1.3% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 111,471 shares of the asset manager’s stock valued at $1,290,000 after purchasing an additional 1,408 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Pennantpark Floating Rate Capital by 7.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,792 shares of the asset manager’s stock valued at $252,000 after purchasing an additional 1,590 shares during the period. Pin Oak Investment Advisors Inc. grew its position in Pennantpark Floating Rate Capital by 1.0% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 217,801 shares of the asset manager’s stock valued at $2,520,000 after purchasing an additional 2,248 shares during the period. Finally, Confluence Investment Management LLC grew its position in Pennantpark Floating Rate Capital by 1.9% in the 1st quarter. Confluence Investment Management LLC now owns 140,761 shares of the asset manager’s stock valued at $1,803,000 after purchasing an additional 2,606 shares during the period. 36.24% of the stock is owned by institutional investors and hedge funds.

Shares of PFLT stock traded down $0.02 during trading hours on Friday, hitting $12.98. 59,050 shares of the company were exchanged, compared to its average volume of 113,435. The company has a market cap of $503.26 million, a price-to-earnings ratio of 12.25 and a beta of 0.71. Pennantpark Floating Rate Capital has a fifty-two week low of $11.05 and a fifty-two week high of $14.12.

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 17th will be given a $0.095 dividend. This represents a $1.14 annualized dividend and a yield of 8.78%. The ex-dividend date of this dividend is Tuesday, April 16th. Pennantpark Floating Rate Capital’s payout ratio is currently 107.55%.

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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