Equities analysts forecast that PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) will post sales of $15.17 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for PennantPark Floating Rate Capital’s earnings. The lowest sales estimate is $15.09 million and the highest is $15.25 million. PennantPark Floating Rate Capital posted sales of $10.80 million during the same quarter last year, which suggests a positive year-over-year growth rate of 40.5%. The company is expected to announce its next quarterly earnings report 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 fiscal year, with estimates ranging from $56.32 million to $56.99 million. For the next fiscal year, analysts expect that the firm will post sales of $69.10 million per share, with estimates ranging from $64.81 million to $73.39 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for PennantPark Floating Rate Capital.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings results 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 company had revenue of $13.22 million during 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%.

Several equities research analysts have commented on PFLT shares. BidaskClub downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Ladenburg Thalmann Financial Services raised PennantPark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $14.75 target price on the stock in a report on Thursday, May 11th. Finally, Keefe, Bruyette & Woods raised PennantPark Floating Rate Capital from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $15.00 to $15.50 in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $14.79.

A number of large investors have recently added to or reduced their stakes in PFLT. Muzinich & Co. Inc. increased its stake in PennantPark Floating Rate Capital by 95.5% in the first quarter. Muzinich & Co. Inc. now owns 1,083,721 shares of the asset manager’s stock valued at $15,107,000 after buying an additional 529,519 shares during the period. UBS Group AG increased its stake in PennantPark Floating Rate Capital by 50.3% in the first quarter. UBS Group AG now owns 806,964 shares of the asset manager’s stock valued at $11,249,000 after buying an additional 270,153 shares during the period. LGT Capital Partners LTD. increased its stake in PennantPark Floating Rate Capital by 34.9% in the first quarter. LGT Capital Partners LTD. now owns 580,000 shares of the asset manager’s stock valued at $8,085,000 after buying an additional 150,000 shares during the period. Janney Montgomery Scott LLC increased its stake in PennantPark Floating Rate Capital by 33.4% in the first quarter. Janney Montgomery Scott LLC now owns 416,835 shares of the asset manager’s stock valued at $5,811,000 after buying an additional 104,371 shares during the period. Finally, Greenwich Investment Management Inc. increased its stake in PennantPark Floating Rate Capital by 121.4% in the first quarter. Greenwich Investment Management Inc. now owns 165,679 shares of the asset manager’s stock valued at $2,309,000 after buying an additional 90,849 shares during the period. 34.44% of the stock is currently owned by institutional investors and hedge funds.

Shares of PennantPark Floating Rate Capital (NASDAQ PFLT) opened at 14.25 on Monday. The company has a 50-day moving average price of $14.19 and a 200-day moving average price of $13.96. PennantPark Floating Rate Capital has a 52-week low of $12.21 and a 52-week high of $14.45.

The business also recently announced a monthly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.095 dividend. This represents a $1.14 annualized dividend and a yield of 8.00%. The ex-dividend date is Wednesday, August 16th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 68.26%.

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About PennantPark Floating Rate Capital

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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