PennantPark Floating Rate Capital Ltd. Plans Monthly Dividend of $0.08 (NYSE:PFLT)

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) declared a monthly dividend on Tuesday, August 4th. Investors of record on Friday, August 14th will be paid a dividend of 0.08 per share on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 13.3%. The ex-dividend date of this dividend is Friday, August 14th.

PennantPark Floating Rate Capital has increased its dividend payment by an average of 0.0%per year over the last three years.

PennantPark Floating Rate Capital Trading Up 0.7%

Shares of PFLT stock opened at $7.20 on Wednesday. The company has a market cap of $714.48 million, a PE ratio of 11.61 and a beta of 0.76. PennantPark Floating Rate Capital has a 1 year low of $6.83 and a 1 year high of $10.60. The stock’s 50 day simple moving average is $7.48 and its two-hundred day simple moving average is $8.23. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.18 and a quick ratio of 0.18.

PennantPark Floating Rate Capital (NYSE:PFLT) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). PennantPark Floating Rate Capital had a net margin of 23.08% and a return on equity of 9.95%. The company had revenue of $44.81 million for the quarter. Research analysts predict that PennantPark Floating Rate Capital will post 1.08 earnings per share for the current year.

Wall Street Analyst Weigh In

PFLT has been the topic of a number of analyst reports. Zacks Research raised PennantPark Floating Rate Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Truist Financial reduced their price target on shares of PennantPark Floating Rate Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Weiss Ratings restated a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research note on Friday, May 8th. Finally, Citizens Jmp dropped their price objective on PennantPark Floating Rate Capital from $11.00 to $10.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.80.

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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.