Wall Street analysts expect PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) to announce sales of $15.17 million for the current quarter, Zacks reports. Two analysts have issued estimates for PennantPark Floating Rate Capital’s earnings, with the highest sales estimate coming in at $15.25 million and the lowest estimate coming in at $15.09 million. PennantPark Floating Rate Capital reported sales of $10.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 40.5%. The company is expected to announce its next earnings results after the market closes on Tuesday, August 8th.

According to Zacks, analysts expect that PennantPark Floating Rate Capital will report full-year sales of $15.17 million for the current financial year, with estimates ranging from $56.32 million to $56.99 million. For the next financial year, analysts expect that the business will report sales of $69.10 million per share, with estimates ranging from $64.81 million to $73.39 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover PennantPark Floating Rate Capital.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings data on Tuesday, May 9th. The asset manager reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $13.22 million for the quarter, compared to analysts’ expectations of $14.43 million. PennantPark Floating Rate Capital had a net margin of 87.29% and a return on equity of 7.45%.

A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Ladenburg Thalmann Financial Services upgraded PennantPark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $14.75 target price for the company in a research note on Thursday, May 11th. Keefe, Bruyette & Woods upgraded PennantPark Floating Rate Capital from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $15.00 to $15.50 in a research note on Wednesday, May 10th. Finally, TheStreet upgraded PennantPark Floating Rate Capital from a “c+” rating to a “b” rating in a research note on Monday, March 20th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. PennantPark Floating Rate Capital has a consensus rating of “Buy” and a consensus target price of $14.79.

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Shares of PennantPark Floating Rate Capital (NASDAQ PFLT) opened at 14.27 on Friday. The company’s 50-day moving average price is $14.09 and its 200-day moving average price is $13.94. PennantPark Floating Rate Capital has a 52-week low of $12.21 and a 52-week high of $14.40.

The company also recently announced a monthly dividend, which will be paid on Tuesday, August 1st. Investors of record on Thursday, July 20th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Tuesday, July 18th. This represents a $1.14 dividend on an annualized basis and a yield of 7.99%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 68.26%.

Institutional investors have recently added to or reduced their stakes in the stock. Sheaff Brock Investment Advisors LLC raised its position in PennantPark Floating Rate Capital by 0.7% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 19,853 shares of the asset manager’s stock worth $277,000 after buying an additional 143 shares during the last quarter. Envestnet Asset Management Inc. raised its position in PennantPark Floating Rate Capital by 2.6% in the first quarter. Envestnet Asset Management Inc. now owns 9,621 shares of the asset manager’s stock worth $134,000 after buying an additional 242 shares during the last quarter. AllSquare Wealth Management LLC raised its position in PennantPark Floating Rate Capital by 3.7% in the first quarter. AllSquare Wealth Management LLC now owns 27,800 shares of the asset manager’s stock worth $388,000 after buying an additional 1,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in PennantPark Floating Rate Capital by 16.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,133 shares of the asset manager’s stock worth $197,000 after buying an additional 2,000 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in PennantPark Floating Rate Capital by 2.3% in the first quarter. HighTower Advisors LLC now owns 104,235 shares of the asset manager’s stock worth $1,453,000 after buying an additional 2,356 shares during the last quarter. Institutional investors and hedge funds own 34.28% of the company’s stock.

PennantPark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.

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