$0.35 Earnings Per Share Expected for PennantPark Floating Rate Capital Ltd. (PFLT) This Quarter

Wall Street brokerages expect that PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) will report earnings per share of $0.35 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for PennantPark Floating Rate Capital’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.36. PennantPark Floating Rate Capital posted earnings per share of $0.31 in the same quarter last year, which suggests a positive year over year growth rate of 12.9%. The firm is scheduled to report its next quarterly earnings report on Tuesday, November 28th.

According to Zacks, analysts expect that PennantPark Floating Rate Capital will report full year earnings of $1.15 per share for the current year, with EPS estimates ranging from $1.13 to $1.17. For the next year, analysts expect that the business will report earnings of $1.18 per share, with EPS estimates ranging from $1.16 to $1.20. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow PennantPark Floating Rate Capital.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings data on Tuesday, August 8th. The asset manager reported $0.25 EPS for the quarter, missing the Thomson Reuters’ 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%.

A number of research firms have weighed in on PFLT. BidaskClub cut shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, September 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $15.50 target price on shares of PennantPark Floating Rate Capital in a research report on Thursday, August 31st. Finally, Maxim Group reiterated a “buy” rating and issued a $14.75 target price on shares of PennantPark Floating Rate Capital in a research report on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. PennantPark Floating Rate Capital presently has an average rating of “Buy” and a consensus price target of $15.00.

Shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) opened at 14.22 on Monday. PennantPark Floating Rate Capital has a 12 month low of $12.21 and a 12 month high of $14.45. The stock’s 50 day moving average is $14.21 and its 200 day moving average is $14.00.

The firm also recently announced a monthly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th will be given a $0.095 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 8.02%. The ex-dividend date is Tuesday, September 19th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 78.08%.

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A number of institutional investors have recently added to or reduced their stakes in PFLT. Wells Fargo & Company MN increased its position in PennantPark Floating Rate Capital by 24.4% during the first quarter. Wells Fargo & Company MN now owns 50,088 shares of the asset manager’s stock worth $699,000 after purchasing an additional 9,821 shares during the last quarter. TFS Capital LLC acquired a new stake in PennantPark Floating Rate Capital during the first quarter worth about $325,000. Oxford Asset Management acquired a new stake in PennantPark Floating Rate Capital during the first quarter worth about $264,000. Raymond James Financial Services Advisors Inc. increased its position in PennantPark Floating Rate Capital by 16.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,133 shares of the asset manager’s stock worth $197,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its position in PennantPark Floating Rate Capital by 22.7% during the first quarter. Pacific Ridge Capital Partners LLC now owns 242,734 shares of the asset manager’s stock worth $3,384,000 after purchasing an additional 44,906 shares during the last quarter. Hedge funds and other institutional investors own 31.56% of the company’s stock.

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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