Analysts Anticipate Pennantpark Floating Rate Capital Ltd (PFLT) Will Announce Quarterly Sales of $19.92 Million
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.
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.
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