PennantPark Floating Rate Capital Ltd. (PFLT) To Go Ex-Dividend on September 15th

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) announced a special dividend on Wednesday, September 2nd. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.0033 per share on Thursday, October 1st. This represents a dividend yield of 1,295.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

PennantPark Floating Rate Capital has increased its dividend payment by an average of 0.0%annually over the last three years.

PennantPark Floating Rate Capital Stock Up 0.6%

Shares of NYSE PFLT opened at $7.12 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.19 and a current ratio of 0.19. PennantPark Floating Rate Capital has a 1 year low of $6.83 and a 1 year high of $10.23. The stock’s 50-day simple moving average is $7.25 and its 200-day simple moving average is $7.87. The firm has a market cap of $706.94 million, a price-to-earnings ratio of 13.97 and a beta of 0.78.

PennantPark Floating Rate Capital (NYSE:PFLT) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). PennantPark Floating Rate Capital had a net margin of 18.53% and a return on equity of 10.24%. The business had revenue of $66.09 million during the quarter. As a group, equities analysts anticipate that PennantPark Floating Rate Capital will post 1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

PFLT has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research note on Wednesday, August 5th. Zacks Research upgraded PennantPark Floating Rate Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Truist Financial lowered their price objective on PennantPark Floating Rate Capital from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, PennantPark Floating Rate Capital has a consensus rating of “Moderate Buy” and an average target price of $9.80.

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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.