PennantPark Floating Rate Capital Stock Rating Lowered by Zacks (PFLT)
PennantPark Floating Rate Capital (NASDAQ:PFLT) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Thursday, StockRatingsNetwork.com reports. They currently have a $12.60 target price on the stock. Zacks‘ target price points to a potential downside of 4.76% from the company’s current price.
PennantPark Floating Rate Capital (NASDAQ:PFLT) traded up 1.43% during mid-day trading on Thursday, hitting $13.4197. 12,144 shares of the company’s stock traded hands. PennantPark Floating Rate Capital has a 52 week low of $12.22 and a 52 week high of $15.02. The stock’s 50-day moving average is $13.42 and its 200-day moving average is $13.98.
The company also recently declared a monthly dividend, which is scheduled for Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.09 per share. This represents a $1.05 dividend on an annualized basis and a yield of 7.94%. The ex-dividend date of this dividend is Thursday, October 17th.
Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of PennantPark Floating Rate Capital from $14.50 to $14.00 in a research note to investors on Tuesday, August 13th. One analyst has rated the stock with a sell rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.12.
PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) is a development-stage company.
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