PennantPark Floating Rate Capital (NYSE:PFLT) Issues Quarterly Earnings Results, Meets Expectations

PennantPark Floating Rate Capital (NYSE:PFLT) issued its quarterly earnings results on Monday. The company reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28, Zacks reports. PennantPark Floating Rate Capital had a return on equity of 10.04% and a net margin of 28.31%.The company had revenue of $68.98 million during the quarter, compared to analyst estimates of $65.91 million.

PennantPark Floating Rate Capital Stock Performance

NYSE:PFLT opened at $9.10 on Wednesday. The company has a market capitalization of $902.88 million, a P/E ratio of 10.83 and a beta of 0.96. PennantPark Floating Rate Capital has a 52-week low of $8.40 and a 52-week high of $11.50. The stock’s 50-day moving average price is $9.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.22 and a current ratio of 0.22.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PFLT shares. Wall Street Zen lowered shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a report on Wednesday, November 19th. Finally, Keefe, Bruyette & Woods upgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “moderate buy” rating and set a $10.50 price objective for the company in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

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.