Wall Street brokerages predict that Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) will announce $19.92 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Pennantpark Floating Rate Capital’s earnings. The highest sales estimate is $20.07 million and the lowest is $19.76 million. Pennantpark Floating Rate Capital reported sales of $18.45 million during the same quarter last year, which indicates a positive year over year growth rate of 8%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, November 14th.

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 financial year, analysts expect that the business will report sales of $85.77 million, with estimates ranging from $82.33 million to $89.21 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Pennantpark Floating Rate Capital.

PFLT has been the subject of several research analyst reports. ValuEngine cut shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Friday, September 14th. BidaskClub cut shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Saturday, July 21st. Zacks Investment Research cut shares of Pennantpark Floating Rate Capital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 16th. JPMorgan Chase & Co. raised their target price on shares of Pennantpark Floating Rate Capital from $7.50 to $8.00 and gave the stock an “overweight” rating in a research report on Friday, August 10th. Finally, Maxim Group raised their target price on shares of Pennantpark Floating Rate Capital from $14.00 to $14.50 and gave the stock a “buy” rating in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Pennantpark Floating Rate Capital has a consensus rating of “Hold” and an average price target of $13.13.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Pennantpark Floating Rate Capital by 2.1% during the 1st quarter. BlackRock Inc. now owns 212,351 shares of the asset manager’s stock valued at $2,780,000 after acquiring an additional 4,409 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Pennantpark Floating Rate Capital by 18.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 29,073 shares of the asset manager’s stock valued at $397,000 after acquiring an additional 4,562 shares during the period. Van ECK Associates Corp lifted its position in Pennantpark Floating Rate Capital by 1.7% during the 2nd quarter. Van ECK Associates Corp now owns 291,319 shares of the asset manager’s stock valued at $3,979,000 after acquiring an additional 4,816 shares during the period. Stratos Wealth Partners LTD. purchased a new position in Pennantpark Floating Rate Capital during the 3rd quarter valued at about $113,000. Finally, Janney Montgomery Scott LLC lifted its position in Pennantpark Floating Rate Capital by 1.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 508,850 shares of the asset manager’s stock valued at $6,951,000 after acquiring an additional 8,586 shares during the period. 33.81% of the stock is owned by institutional investors.

NASDAQ:PFLT opened at $12.95 on Wednesday. Pennantpark Floating Rate Capital has a 12 month low of $12.00 and a 12 month high of $14.32. The stock has a market capitalization of $506.36 million, a PE ratio of 11.77 and a beta of 0.52.

The business also recently announced a monthly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Tuesday, November 20th will be given a $0.078 dividend. This represents a $0.94 annualized dividend and a dividend yield of 7.23%. This is a boost from Pennantpark Floating Rate Capital’s previous monthly dividend of $0.01. The ex-dividend date is Monday, November 19th. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) 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.

Read More: How much money do you need to begin day trading?

Get a free copy of the Zacks research report on Pennantpark Floating Rate Capital (PFLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

Receive News & Ratings for Pennantpark Floating Rate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennantpark Floating Rate Capital and related companies with MarketBeat.com's FREE daily email newsletter.