Brokerages forecast that Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) will report earnings per share (EPS) of $0.29 for the current quarter, Zacks reports. Two analysts have issued estimates for Pennantpark Floating Rate Capital’s earnings. Pennantpark Floating Rate Capital posted earnings per share of $0.30 in the same quarter last year, which indicates a negative year over year growth rate of 3.3%. The company is expected to issue its next quarterly earnings results on Wednesday, February 5th.
According to Zacks, analysts expect that Pennantpark Floating Rate Capital will report full year earnings of $1.18 per share for the current financial year, with EPS estimates ranging from $1.17 to $1.19. For the next fiscal year, analysts forecast that the company will post earnings of $1.22 per share, with EPS estimates ranging from $1.21 to $1.22. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Pennantpark Floating Rate Capital.
Pennantpark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings results on Wednesday, November 20th. The asset manager reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. Pennantpark Floating Rate Capital had a return on equity of 8.97% and a net margin of 12.28%. The company had revenue of $23.88 million for the quarter, compared to the consensus estimate of $23.53 million.
In other news, CEO Arthur H. Penn bought 9,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average cost of $11.78 per share, for a total transaction of $106,020.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arthur H. Penn purchased 8,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $12.03 per share, for a total transaction of $96,240.00. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of PFLT. Virtus ETF Advisers LLC bought a new stake in Pennantpark Floating Rate Capital during the second quarter worth $3,335,000. Sound Income Strategies LLC raised its stake in shares of Pennantpark Floating Rate Capital by 16.9% during the 3rd quarter. Sound Income Strategies LLC now owns 1,869,117 shares of the asset manager’s stock worth $21,682,000 after purchasing an additional 270,417 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Pennantpark Floating Rate Capital by 164.6% in the 2nd quarter. Acadian Asset Management LLC now owns 92,923 shares of the asset manager’s stock worth $1,073,000 after buying an additional 57,806 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Pennantpark Floating Rate Capital in the 3rd quarter worth about $599,000. Finally, Ancora Advisors LLC purchased a new position in shares of Pennantpark Floating Rate Capital in the 2nd quarter worth about $578,000. 35.79% of the stock is owned by hedge funds and other institutional investors.
Shares of PFLT traded down $0.05 during mid-day trading on Friday, reaching $12.43. The company had a trading volume of 54,529 shares, compared to its average volume of 150,154. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16. The company’s 50-day moving average is $11.80 and its 200-day moving average is $11.66. Pennantpark Floating Rate Capital has a twelve month low of $11.05 and a twelve month high of $13.42. The company has a market capitalization of $483.88 million, a P/E ratio of 10.62 and a beta of 0.75.
The company also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th will be issued a $0.095 dividend. This represents a $1.14 annualized dividend and a yield of 9.17%. The ex-dividend date of this dividend is Wednesday, December 18th. Pennantpark Floating Rate Capital’s dividend payout ratio is currently 97.44%.
About Pennantpark Floating Rate Capital
PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.
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