$22.99 Million in Sales Expected for Pennantpark Floating Rate Capital Ltd (PFLT) This Quarter

Equities research analysts expect that Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) will announce sales of $22.99 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Pennantpark Floating Rate Capital’s earnings. The lowest sales estimate is $22.79 million and the highest is $23.19 million. Pennantpark Floating Rate Capital posted sales of $16.50 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 39.3%. The company is scheduled to issue its next earnings report on Thursday, May 9th.

On average, analysts expect that Pennantpark Floating Rate Capital will report full-year sales of $93.77 million for the current year, with estimates ranging from $91.60 million to $95.95 million. For the next financial year, analysts expect that the firm will report sales of $103.08 million, with estimates ranging from $92.24 million to $113.92 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Pennantpark Floating Rate Capital.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings results on Wednesday, February 6th. The asset manager reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $23.18 million for the quarter, compared to analyst estimates of $22.06 million. Pennantpark Floating Rate Capital had a return on equity of 8.24% and a net margin of 45.40%.

Several analysts have recently issued reports on the company. BidaskClub upgraded Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Zacks Investment Research upgraded Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, February 12th. Finally, Maxim Group reiterated a “buy” rating and set a $14.50 price target on shares of Pennantpark Floating Rate Capital in a research note on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $14.50.

A number of institutional investors and hedge funds have recently made changes to their positions in PFLT. Flagship Harbor Advisors LLC acquired a new stake in shares of Pennantpark Floating Rate Capital in the 4th quarter valued at about $48,000. Stephens Inc. AR purchased a new position in shares of Pennantpark Floating Rate Capital during the fourth quarter valued at approximately $127,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Pennantpark Floating Rate Capital by 7.9% during the fourth 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 last quarter. Standard Life Aberdeen plc purchased a new position in shares of Pennantpark Floating Rate Capital during the third quarter valued at approximately $278,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Pennantpark Floating Rate Capital by 11.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 27,840 shares of the asset manager’s stock valued at $322,000 after purchasing an additional 2,881 shares during the last quarter. Hedge funds and other institutional investors own 36.01% of the company’s stock.

NASDAQ:PFLT traded down $0.03 during trading hours on Monday, hitting $12.82. The company’s stock had a trading volume of 2,488 shares, compared to its average volume of 127,105. The stock has a market capitalization of $497.42 million, a price-to-earnings ratio of 12.09 and a beta of 0.71. Pennantpark Floating Rate Capital has a 52-week low of $11.05 and a 52-week high of $14.12.

The company also recently disclosed a monthly dividend, which was paid on Monday, April 1st. Shareholders of record on Wednesday, March 20th were given a $0.095 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 8.89%. This is a positive change from Pennantpark Floating Rate Capital’s previous monthly dividend of $0.02. The ex-dividend date of this dividend was Tuesday, March 19th. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is presently 71.70%.

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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