Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) Expected to Announce Quarterly Sales of $23.53 Million

Equities research analysts forecast that Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) will post $23.53 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Pennantpark Floating Rate Capital’s earnings. The lowest sales estimate is $23.50 million and the highest is $23.56 million. Pennantpark Floating Rate Capital reported sales of $21.30 million during the same quarter last year, which indicates a positive year over year growth rate of 10.5%. The business is expected to report its next earnings report after the market closes on Wednesday, November 20th.

According to Zacks, analysts expect that Pennantpark Floating Rate Capital will report full year sales of $92.60 million for the current financial year, with estimates ranging from $92.57 million to $92.62 million. For the next year, analysts anticipate that the firm will report sales of $98.90 million, with estimates ranging from $98.44 million to $99.36 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Pennantpark Floating Rate Capital.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its earnings results on Wednesday, August 7th. The asset manager reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $22.88 million for the quarter, compared to the consensus estimate of $22.90 million. Pennantpark Floating Rate Capital had a return on equity of 8.83% and a net margin of 16.65%.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. BidaskClub downgraded Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Finally, JMP Securities dropped their target price on Pennantpark Floating Rate Capital from $13.50 to $13.00 and set a “market outperform” rating for the company in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $13.50.

In other Pennantpark Floating Rate Capital news, Director Samuel L. Katz bought 25,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $11.42 per share, with a total value of $285,500.00. Following the completion of the purchase, the director now owns 191,800 shares in the company, valued at $2,190,356. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Arthur H. Penn bought 9,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $11.66 per share, with a total value of $104,940.00. The disclosure for this purchase can be found here. Insiders purchased 50,000 shares of company stock valued at $575,400 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Optimum Investment Advisors grew its stake in Pennantpark Floating Rate Capital by 1.8% in the third quarter. Optimum Investment Advisors now owns 52,255 shares of the asset manager’s stock valued at $606,000 after acquiring an additional 934 shares during the period. NEXT Financial Group Inc grew its stake in Pennantpark Floating Rate Capital by 13.3% in the second quarter. NEXT Financial Group Inc now owns 8,681 shares of the asset manager’s stock valued at $101,000 after acquiring an additional 1,018 shares during the period. Wiley BROS. Aintree Capital LLC grew its stake in Pennantpark Floating Rate Capital by 2.7% in the third quarter. Wiley BROS. Aintree Capital LLC now owns 59,439 shares of the asset manager’s stock valued at $782,000 after acquiring an additional 1,563 shares during the period. PFG Advisors grew its stake in Pennantpark Floating Rate Capital by 1.1% in the third quarter. PFG Advisors now owns 146,536 shares of the asset manager’s stock valued at $1,672,000 after acquiring an additional 1,640 shares during the period. Finally, Confluence Investment Management LLC grew its stake in Pennantpark Floating Rate Capital by 1.2% in the third quarter. Confluence Investment Management LLC now owns 175,444 shares of the asset manager’s stock valued at $2,035,000 after acquiring an additional 2,151 shares during the period. 35.90% of the stock is owned by hedge funds and other institutional investors.

Shares of PFLT stock traded up $0.03 on Wednesday, reaching $11.51. 99,000 shares of the stock were exchanged, compared to its average volume of 141,122. The stock has a market cap of $447.04 million, a PE ratio of 10.86 and a beta of 0.73. Pennantpark Floating Rate Capital has a one year low of $11.05 and a one year high of $13.42. The stock has a 50 day moving average price of $11.55 and a 200 day moving average price of $11.84.

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 17th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $1.14 dividend on an annualized basis and a yield of 9.90%. Pennantpark Floating Rate Capital’s dividend payout ratio is presently 107.55%.

About Pennantpark Floating Rate Capital

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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