$19.92 Million in Sales Expected for Pennantpark Floating Rate Capital Ltd (PFLT) This Quarter

Analysts expect that Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) will post $19.92 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Pennantpark Floating Rate Capital’s earnings. The lowest sales estimate is $19.76 million and the highest is $20.07 million. Pennantpark Floating Rate Capital posted sales of $18.45 million in the same quarter last year, which suggests a positive year over year growth rate of 8%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 29th.

On average, analysts expect that Pennantpark Floating Rate Capital will report full year sales of $70.78 million for the current financial year, with estimates ranging from $70.62 million to $70.94 million. For the next fiscal year, analysts anticipate that the business will post sales of $85.77 million, with estimates ranging from $82.33 million to $89.21 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Pennantpark Floating Rate Capital.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings results on Wednesday, August 8th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. Pennantpark Floating Rate Capital had a net margin of 48.08% and a return on equity of 7.86%. The business had revenue of $19.53 million for the quarter, compared to analyst estimates of $17.93 million.

Several equities analysts have issued reports on PFLT shares. Maxim Group lifted their price target on shares of Pennantpark Floating Rate Capital from $14.00 to $14.50 and gave the stock a “buy” rating in a report on Friday, August 10th. JPMorgan Chase & Co. lifted their price target on shares of Pennantpark Floating Rate Capital from $7.50 to $8.00 and gave the stock an “overweight” rating in a report on Friday, August 10th. BidaskClub lowered shares of Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Zacks Investment Research raised shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Tuesday, August 14th. Finally, ValuEngine lowered shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Friday, September 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Pennantpark Floating Rate Capital has a consensus rating of “Hold” and a consensus target price of $13.13.

Several large investors have recently bought and sold shares of PFLT. Wells Fargo & Company MN lifted its stake in shares of Pennantpark Floating Rate Capital by 16.7% during the first quarter. Wells Fargo & Company MN now owns 97,769 shares of the asset manager’s stock worth $1,279,000 after buying an additional 14,010 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Pennantpark Floating Rate Capital by 35.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,511 shares of the asset manager’s stock worth $321,000 after buying an additional 6,462 shares during the period. BlackRock Inc. lifted its stake in shares of Pennantpark Floating Rate Capital by 2.1% during the first quarter. BlackRock Inc. now owns 212,351 shares of the asset manager’s stock worth $2,780,000 after buying an additional 4,409 shares during the period. Great West Life Assurance Co. Can acquired a new stake in shares of Pennantpark Floating Rate Capital during the first quarter worth $137,000. Finally, Stifel Financial Corp lifted its stake in shares of Pennantpark Floating Rate Capital by 16.3% during the first quarter. Stifel Financial Corp now owns 255,913 shares of the asset manager’s stock worth $3,360,000 after buying an additional 35,948 shares during the period. Institutional investors and hedge funds own 33.14% of the company’s stock.

NASDAQ PFLT traded down $0.12 on Wednesday, hitting $12.80. The stock had a trading volume of 193,400 shares, compared to its average volume of 176,652. Pennantpark Floating Rate Capital has a 52-week low of $12.00 and a 52-week high of $14.65. The firm has a market capitalization of $509.85 million, a P/E ratio of 11.64 and a beta of 0.51.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 17th will be paid a dividend of $0.013 per share. The ex-dividend date is Tuesday, October 16th. This represents a $0.16 annualized dividend and a dividend yield of 1.22%. Pennantpark Floating Rate Capital’s payout ratio is currently 103.64%.

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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