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

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) announced a monthly dividend on Tuesday, June 2nd. Investors of record on Monday, June 15th will be paid a dividend of 0.0833 per share on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 12.0%. The ex-dividend date of this dividend is Monday, June 15th.

PennantPark Floating Rate Capital has raised its dividend by an average of 0.0%annually over the last three years.

PennantPark Floating Rate Capital Stock Up 0.0%

Shares of NYSE PFLT opened at $8.33 on Wednesday. The stock has a market cap of $826.70 million, a PE ratio of 13.44 and a beta of 0.75. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.92. PennantPark Floating Rate Capital has a 52-week low of $7.68 and a 52-week high of $10.88. The business has a 50-day moving average price of $8.45 and a 200 day moving average price of $8.83.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PFLT. Wall Street Zen raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research report on Friday, May 8th. Maxim Group set a $10.50 target price on PennantPark Floating Rate Capital in a research report on Wednesday, February 11th. Keefe, Bruyette & Woods decreased their target price on PennantPark Floating Rate Capital from $10.50 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Finally, Truist Financial decreased their target price on PennantPark Floating Rate Capital from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, PennantPark Floating Rate Capital 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.