PennantPark Floating Rate Capital Ltd. (PFLT) to Issue $0.10 Monthly Dividend
PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declared a monthly dividend on Thursday, November 2nd, NASDAQ reports. Stockholders of record on Friday, November 17th will be given a dividend of 0.095 per share by the asset manager on Friday, December 1st. This represents a $1.14 dividend on an annualized basis and a dividend yield of 8.17%. The ex-dividend date is Thursday, November 16th.
PennantPark Floating Rate Capital (NASDAQ:PFLT) traded down $0.03 during trading on Friday, hitting $13.96. 146,460 shares of the stock were exchanged, compared to its average volume of 505,222. The company has a market cap of $454.40, a P/E ratio of 12.84 and a beta of 0.60. PennantPark Floating Rate Capital has a fifty-two week low of $13.10 and a fifty-two week high of $14.65.
PennantPark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings results on Tuesday, August 8th. The asset manager reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The business had revenue of $15.19 million for the quarter, compared to the consensus estimate of $15.17 million. PennantPark Floating Rate Capital had a net margin of 73.28% and a return on equity of 7.26%. research analysts predict that PennantPark Floating Rate Capital will post 1.14 EPS for the current fiscal year.
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A number of research analysts have recently weighed in on PFLT shares. BidaskClub downgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Maxim Group restated a “buy” rating and set a $14.75 price target on shares of PennantPark Floating Rate Capital in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, August 15th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $15.50 price target on shares of PennantPark Floating Rate Capital in a report on Thursday, August 31st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $15.08.
About PennantPark Floating Rate Capital
PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.
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