PennantPark Floating Rate Capital (NYSE:PFLT) Posts Earnings Results, Misses Expectations By $0.03 EPS

PennantPark Floating Rate Capital (NYSE:PFLT) issued its quarterly earnings results on Monday. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03), FiscalAI reports. PennantPark Floating Rate Capital had a return on equity of 9.64% and a net margin of 13.03%.The firm had revenue of $12.72 million for the quarter.

PennantPark Floating Rate Capital Stock Down 3.4%

Shares of PFLT opened at $9.11 on Wednesday. PennantPark Floating Rate Capital has a 52-week low of $8.40 and a 52-week high of $11.50. The firm has a market cap of $903.89 million, a P/E ratio of 26.79 and a beta of 0.76. The business has a fifty day moving average of $9.38. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.85.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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. 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.