Pennantpark Floating Rate Capital Ltd (PFLT) To Go Ex-Dividend on October 20th

Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) declared a monthly dividend on Friday, October 2nd, Zacks reports. Stockholders of record on Wednesday, October 21st will be paid a dividend of 0.095 per share by the asset manager on Monday, November 2nd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 13.12%. The ex-dividend date is Tuesday, October 20th.

Pennantpark Floating Rate Capital has a dividend payout ratio of 102.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Pennantpark Floating Rate Capital to earn $1.05 per share next year, which means the company may not be able to cover its $1.14 annual dividend with an expected future payout ratio of 108.6%.

Shares of PFLT stock opened at $8.69 on Friday. Pennantpark Floating Rate Capital has a fifty-two week low of $3.34 and a fifty-two week high of $12.67. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a 50 day simple moving average of $8.54 and a two-hundred day simple moving average of $7.91. The company has a market cap of $336.91 million, a P/E ratio of 39.50 and a beta of 1.78.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings results on Wednesday, August 5th. The asset manager reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). The company had revenue of $22.77 million during the quarter, compared to the consensus estimate of $25.46 million. Pennantpark Floating Rate Capital had a net margin of 9.02% and a return on equity of 9.14%. On average, research analysts predict that Pennantpark Floating Rate Capital will post 1.11 earnings per share for the current year.

A number of equities research analysts have commented on PFLT shares. ValuEngine lowered shares of Pennantpark Floating Rate Capital from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. TheStreet raised shares of Pennantpark Floating Rate Capital from a “d+” rating to a “c” rating in a research report on Monday, August 24th. BidaskClub lowered Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a report on Tuesday, July 7th. Maxim Group reissued a “hold” rating on shares of Pennantpark Floating Rate Capital in a research note on Tuesday, August 11th. Finally, Zacks Investment Research raised Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Pennantpark Floating Rate Capital has a consensus rating of “Hold” and an average target price of $10.58.

Pennantpark Floating Rate Capital Company Profile

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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Dividend History for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

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