Q1 2020 Earnings Forecast for Pennantpark Floating Rate Capital Ltd (PFLT) Issued By SunTrust Banks

Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) – Research analysts at SunTrust Banks dropped their Q1 2020 earnings per share estimates for Pennantpark Floating Rate Capital in a research report issued on Thursday, May 9th. SunTrust Banks analyst M. Hughes now anticipates that the asset manager will post earnings of $0.30 per share for the quarter, down from their previous estimate of $0.31. SunTrust Banks also issued estimates for Pennantpark Floating Rate Capital’s Q4 2020 earnings at $0.31 EPS.

A number of other research firms also recently commented on PFLT. BidaskClub downgraded Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. ValuEngine downgraded Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research downgraded Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Maxim Group restated 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, Keefe, Bruyette & Woods downgraded Pennantpark Floating Rate Capital from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $14.00 to $13.00 in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $14.13.

NASDAQ:PFLT opened at $12.17 on Monday. The stock has a market capitalization of $465.27 million, a P/E ratio of 11.48 and a beta of 0.72. Pennantpark Floating Rate Capital has a 12 month low of $11.05 and a 12 month high of $14.12.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last posted its earnings results on Wednesday, May 8th. The asset manager reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $23.01 million for the quarter, compared to the consensus estimate of $22.99 million. Pennantpark Floating Rate Capital had a return on equity of 8.72% and a net margin of 17.80%.

A number of hedge funds have recently modified their holdings of PFLT. LGT Capital Partners LTD. raised its position in Pennantpark Floating Rate Capital by 32.5% during the fourth quarter. LGT Capital Partners LTD. now owns 1,020,000 shares of the asset manager’s stock valued at $11,801,000 after purchasing an additional 250,000 shares during the period. B. Riley Wealth Management Inc. purchased a new stake in Pennantpark Floating Rate Capital during the fourth quarter valued at approximately $2,218,000. PFG Advisors purchased a new stake in Pennantpark Floating Rate Capital during the fourth quarter valued at approximately $1,958,000. West Family Investments Inc. raised its position in Pennantpark Floating Rate Capital by 42.1% during the fourth quarter. West Family Investments Inc. now owns 378,669 shares of the asset manager’s stock valued at $4,385,000 after purchasing an additional 112,252 shares during the period. Finally, Roosevelt Investment Group Inc. purchased a new stake in Pennantpark Floating Rate Capital during the fourth quarter valued at approximately $1,072,000. Institutional investors and hedge funds own 36.49% of the company’s stock.

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $0.095 per share. The ex-dividend date is Friday, May 17th. This represents a $1.14 dividend on an annualized basis and a yield of 9.37%. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is presently 71.70%.

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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