Wall Street analysts forecast that Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) will announce earnings of $0.25 per share for the current quarter, according to Zacks. Two analysts have made estimates for Pennantpark Floating Rate Capital’s earnings, with the highest EPS estimate coming in at $0.26 and the lowest estimate coming in at $0.23. Pennantpark Floating Rate Capital posted earnings of $0.26 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 3.8%. The firm is expected to announce its next earnings report after the market closes on Thursday, February 8th.
On average, analysts expect that Pennantpark Floating Rate Capital will report full-year earnings of $1.08 per share for the current fiscal year, with EPS estimates ranging from $1.00 to $1.14. For the next financial year, analysts expect that the company will report earnings of $1.17 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Pennantpark Floating Rate Capital.
Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings data on Thursday, November 30th. The asset manager reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The firm had revenue of $18.45 million for the quarter, compared to analyst estimates of $19.40 million. Pennantpark Floating Rate Capital had a net margin of 61.05% and a return on equity of 7.66%. Pennantpark Floating Rate Capital’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS.
Shares of Pennantpark Floating Rate Capital (PFLT) opened at $13.55 on Wednesday. The stock has a market capitalization of $526.41, a price-to-earnings ratio of 12.78 and a beta of 0.59. Pennantpark Floating Rate Capital has a 12-month low of $13.24 and a 12-month high of $14.65.
The business also recently announced a monthly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Thursday, January 18th will be issued a dividend of $0.095 per share. The ex-dividend date is Wednesday, January 17th. This represents a $1.14 annualized dividend and a yield of 8.41%. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is currently 107.55%.
A number of hedge funds and other institutional investors have recently bought and sold shares of PFLT. Arrowstreet Capital Limited Partnership bought a new position in Pennantpark Floating Rate Capital during the second quarter valued at about $1,764,000. Stifel Financial Corp raised its holdings in Pennantpark Floating Rate Capital by 151.6% during the third quarter. Stifel Financial Corp now owns 163,704 shares of the asset manager’s stock valued at $2,355,000 after buying an additional 98,649 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Pennantpark Floating Rate Capital by 37.9% in the second quarter. Van ECK Associates Corp now owns 281,802 shares of the asset manager’s stock worth $3,976,000 after purchasing an additional 77,397 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Pennantpark Floating Rate Capital by 16.4% in the third quarter. Janney Montgomery Scott LLC now owns 492,018 shares of the asset manager’s stock worth $7,124,000 after purchasing an additional 69,422 shares during the period. Finally, Ameriprise Financial Inc. bought a new position in shares of Pennantpark Floating Rate Capital in the second quarter worth about $893,000. Institutional investors own 25.92% of the company’s stock.
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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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