PennantPark Floating Rate Capital (NYSE:PFLT) Issues Earnings Results

PennantPark Floating Rate Capital (NYSE:PFLT) announced its quarterly earnings data on Monday. The company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28, Zacks reports. PennantPark Floating Rate Capital had a net margin of 28.31% and a return on equity of 10.04%. The company had revenue of $68.98 million during the quarter, compared to analyst estimates of $65.91 million.

PennantPark Floating Rate Capital Price Performance

Shares of PFLT opened at $9.25 on Tuesday. PennantPark Floating Rate Capital has a 12 month low of $8.40 and a 12 month high of $11.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.22 and a current ratio of 0.22. The stock’s fifty day moving average is $9.02. The company has a market cap of $917.77 million, a P/E ratio of 11.01 and a beta of 0.96.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PFLT. Weiss Ratings reiterated a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research note on Wednesday, November 19th. Keefe, Bruyette & Woods raised PennantPark Floating Rate Capital from a “hold” rating to a “moderate buy” rating and set a $10.50 target price on the stock in a report on Monday, October 6th. Finally, Wall Street Zen downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.50.

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.