Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) have received an average rating of “Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $14.90.

A number of brokerages have weighed in on PFLT. Zacks Investment Research lowered PennantPark Floating Rate Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods set a $16.00 target price on PennantPark Floating Rate Capital and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, BidaskClub raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position in shares of PennantPark Floating Rate Capital by 2.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 9,621 shares of the asset manager’s stock worth $134,000 after acquiring an additional 242 shares in the last quarter. CIBC World Markets Inc. bought a new position in shares of PennantPark Floating Rate Capital in the 2nd quarter worth $202,000. GSA Capital Partners LLP bought a new position in shares of PennantPark Floating Rate Capital in the 2nd quarter worth $207,000. Sigma Planning Corp bought a new position in shares of PennantPark Floating Rate Capital in the 2nd quarter worth $215,000. Finally, First Allied Advisory Services Inc. raised its position in shares of PennantPark Floating Rate Capital by 1.6% in the 2nd quarter. First Allied Advisory Services Inc. now owns 19,160 shares of the asset manager’s stock worth $269,000 after acquiring an additional 299 shares in the last quarter. 30.40% of the stock is owned by hedge funds and other institutional investors.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last issued its earnings results on Tuesday, August 8th. The asset manager reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). The firm had revenue of $15.19 million for the quarter, compared to the consensus estimate of $15.17 million. PennantPark Floating Rate Capital had a net margin of 73.28% and a return on equity of 7.26%.

The business also recently declared a monthly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Thursday, October 19th were given a $0.095 dividend. This represents a $1.14 annualized dividend and a dividend yield of 8.14%. The ex-dividend date of this dividend was Wednesday, October 18th. PennantPark Floating Rate Capital’s payout ratio is 78.08%.

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.

Analyst Recommendations for PennantPark Floating Rate Capital (NASDAQ:PFLT)

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