PennantPark Floating Rate Capital Ltd. Announces Monthly Dividend of $0.10 (NASDAQ:PFLT)

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) announced a monthly dividend on Monday, November 4th, NASDAQ reports. Investors of record on Friday, November 15th will be paid a dividend of 0.1025 per share by the asset manager on Monday, December 2nd. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.11%. The ex-dividend date of this dividend is Friday, November 15th.

PennantPark Floating Rate Capital has decreased its dividend by an average of 35.2% per year over the last three years.

PennantPark Floating Rate Capital Trading Up 0.6 %

NASDAQ:PFLT traded up $0.07 during trading hours on Tuesday, hitting $11.07. 518,341 shares of the stock were exchanged, compared to its average volume of 768,586. The company has a market capitalization of $812.76 million, a P/E ratio of 6.83 and a beta of 1.69. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $11.48 and its two-hundred day moving average is $11.40. PennantPark Floating Rate Capital has a twelve month low of $10.28 and a twelve month high of $12.63.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings results on Wednesday, August 7th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). PennantPark Floating Rate Capital had a net margin of 59.16% and a return on equity of 10.99%. The firm had revenue of $48.51 million for the quarter, compared to analyst estimates of $47.63 million. During the same period last year, the company earned $0.36 EPS. On average, sell-side analysts anticipate that PennantPark Floating Rate Capital will post 1.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JMP Securities cut their target price on PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 30th. Maxim Group upgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Monday, August 12th. Finally, StockNews.com lowered shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 9th.

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.