Brokerages forecast that Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) will post $22.90 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Pennantpark Floating Rate Capital’s earnings, with the lowest sales estimate coming in at $22.87 million and the highest estimate coming in at $22.93 million. Pennantpark Floating Rate Capital posted sales of $19.53 million in the same quarter last year, which suggests a positive year-over-year growth rate of 17.3%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Pennantpark Floating Rate Capital will report full year sales of $92.59 million for the current financial year, with estimates ranging from $91.76 million to $93.43 million. For the next fiscal year, analysts anticipate that the company will report sales of $96.56 million, with estimates ranging from $91.01 million to $102.11 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Pennantpark Floating Rate Capital.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings results on Wednesday, May 8th. The asset manager reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Pennantpark Floating Rate Capital had a net margin of 17.80% and a return on equity of 8.80%. The company had revenue of $23.01 million for the quarter, compared to analyst estimates of $22.99 million.

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered shares of Pennantpark Floating Rate Capital from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $14.00 to $13.00 in a research report on Wednesday, May 8th. Zacks Investment Research cut shares of Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. BidaskClub raised shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Finally, Maxim Group reaffirmed a “buy” rating and set a $14.50 price objective on shares of Pennantpark Floating Rate Capital in a research note on Thursday, February 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.13.

In other news, Director Samuel L. Katz acquired 20,000 shares of Pennantpark Floating Rate Capital stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average price of $12.11 per share, with a total value of $242,200.00. Following the completion of the purchase, the director now owns 146,900 shares in the company, valued at $1,778,959. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Arthur H. Penn acquired 7,000 shares of Pennantpark Floating Rate Capital stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $12.10 per share, with a total value of $84,700.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 36,100 shares of company stock valued at $437,470. 1.00% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of PFLT. B. Riley Wealth Management Inc. purchased a new position in Pennantpark Floating Rate Capital during the fourth quarter valued at approximately $2,218,000. PFG Advisors purchased a new position in Pennantpark Floating Rate Capital in the 4th quarter worth approximately $1,958,000. West Family Investments Inc. grew its stake in Pennantpark Floating Rate Capital by 42.1% in the 4th quarter. West Family Investments Inc. now owns 378,669 shares of the asset manager’s stock worth $4,385,000 after buying an additional 112,252 shares in the last quarter. Roosevelt Investment Group Inc. purchased a new position in Pennantpark Floating Rate Capital in the 4th quarter worth approximately $1,072,000. Finally, Sound Income Strategies LLC grew its stake in Pennantpark Floating Rate Capital by 8.4% in the 1st quarter. Sound Income Strategies LLC now owns 1,172,567 shares of the asset manager’s stock worth $15,021,000 after buying an additional 90,537 shares in the last quarter. 36.48% of the stock is owned by institutional investors.

NASDAQ PFLT opened at $12.13 on Thursday. Pennantpark Floating Rate Capital has a 12-month low of $11.05 and a 12-month high of $14.12. The company has a market capitalization of $468.75 million, a PE ratio of 11.44 and a beta of 0.72.

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $0.095 per share. The ex-dividend date is Friday, May 17th. This represents a $1.14 annualized dividend and a yield of 9.40%. Pennantpark Floating Rate Capital’s dividend payout ratio is currently 71.70%.

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.

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

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