Pennantpark Floating Rate Capital Ltd (PFLT) Expected to Announce Earnings of $0.25 Per Share
Equities research analysts expect Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) to report earnings of $0.25 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Pennantpark Floating Rate Capital’s earnings, with estimates ranging from $0.23 to $0.26. Pennantpark Floating Rate Capital posted earnings of $0.26 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.8%. The firm is expected to issue its next quarterly earnings report after the market closes on Thursday, February 8th.
On average, analysts expect that Pennantpark Floating Rate Capital will report full year earnings of $1.08 per share for the current fiscal year, with EPS estimates ranging from $1.00 to $1.14. For the next financial year, analysts anticipate that the company will post earnings of $1.17 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Pennantpark Floating Rate Capital.
Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its earnings results on Thursday, November 30th. The asset manager reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Pennantpark Floating Rate Capital had a net margin of 61.05% and a return on equity of 7.66%. The company had revenue of $18.45 million during the quarter, compared to analyst estimates of $19.40 million. During the same quarter in the previous year, the company posted $0.31 EPS. The company’s quarterly revenue was up 19.8% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in PFLT. Arrowstreet Capital Limited Partnership purchased a new stake in Pennantpark Floating Rate Capital in the 2nd quarter valued at $1,764,000. Taylor Frigon Capital Management LLC purchased a new stake in Pennantpark Floating Rate Capital in the 4th quarter valued at $1,541,000. Stifel Financial Corp raised its position in Pennantpark Floating Rate Capital by 151.6% in the 3rd quarter. Stifel Financial Corp now owns 163,704 shares of the asset manager’s stock valued at $2,355,000 after purchasing an additional 98,649 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Pennantpark Floating Rate Capital by 16.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 492,018 shares of the asset manager’s stock valued at $7,124,000 after purchasing an additional 69,422 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in Pennantpark Floating Rate Capital in the 2nd quarter valued at $893,000. Hedge funds and other institutional investors own 26.51% of the company’s stock.
Pennantpark Floating Rate Capital (NASDAQ PFLT) opened at $13.68 on Friday. Pennantpark Floating Rate Capital has a twelve month low of $13.24 and a twelve month high of $14.65. The stock has a market cap of $526.41, a price-to-earnings ratio of 12.44 and a beta of 0.54.
The firm also recently declared a monthly dividend, which was paid on Thursday, February 1st. Investors of record on Thursday, January 18th were given a $0.095 dividend. The ex-dividend date was Wednesday, January 17th. This represents a $1.14 annualized dividend and a yield of 8.33%. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is 95.00%.
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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