PennantPark Floating Rate Capital (PFLT) to Release Quarterly Earnings on Wednesday

Posted by Defense World Staff on May 3rd, 2023

PennantPark Floating Rate Capital (NASDAQ:PFLT – Get Rating) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, May 10th. Analysts expect the company to announce earnings of $0.31 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

PennantPark Floating Rate Capital (NASDAQ:PFLT – Get Rating) last released its quarterly earnings results on Thursday, February 9th. The asset manager reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. PennantPark Floating Rate Capital had a positive return on equity of 9.60% and a negative net margin of 11.40%. The business had revenue of $31.34 million during the quarter, compared to analyst estimates of $29.59 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, analysts expect PennantPark Floating Rate Capital to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

PennantPark Floating Rate Capital Stock Performance

NASDAQ:PFLT opened at $10.53 on Wednesday. The stock has a 50-day simple moving average of $10.64 and a two-hundred day simple moving average of $10.99. PennantPark Floating Rate Capital has a 52-week low of $9.43 and a 52-week high of $13.57. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $523.66 million, a PE ratio of -32.91 and a beta of 1.65.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, May 1st. Shareholders of record on Tuesday, April 18th were issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 11.40%. The ex-dividend date was Monday, April 17th. PennantPark Floating Rate Capital’s dividend payout ratio is presently -375.00%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PFLT shares. StockNews.com started coverage on PennantPark Floating Rate Capital in a research note on Thursday, March 16th. They issued a “sell” rating for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 price objective on shares of PennantPark Floating Rate Capital in a research note on Monday, March 13th. Finally, Truist Financial dropped their price objective on PennantPark Floating Rate Capital from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, February 13th.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

A number of hedge funds have recently made changes to their positions in the business. First Republic Investment Management Inc. lifted its position in shares of PennantPark Floating Rate Capital by 27.5% in the fourth quarter. First Republic Investment Management Inc. now owns 363,811 shares of the asset manager’s stock worth $3,995,000 after buying an additional 78,546 shares in the last quarter. BlackRock Inc. lifted its position in shares of PennantPark Floating Rate Capital by 31.1% in the third quarter. BlackRock Inc. now owns 359,692 shares of the asset manager’s stock worth $3,453,000 after buying an additional 85,430 shares in the last quarter. Legal & General Group Plc lifted its position in shares of PennantPark Floating Rate Capital by 11.4% in the fourth quarter. Legal & General Group Plc now owns 299,206 shares of the asset manager’s stock worth $3,281,000 after buying an additional 30,632 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of PennantPark Floating Rate Capital by 12.5% in the first quarter. Advisors Asset Management Inc. now owns 234,366 shares of the asset manager’s stock worth $3,166,000 after buying an additional 25,963 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of PennantPark Floating Rate Capital by 6.8% in the third quarter. UBS Group AG now owns 137,183 shares of the asset manager’s stock worth $1,317,000 after buying an additional 8,768 shares in the last quarter. Institutional investors own 21.02% of the company’s stock.

PennantPark Floating Rate Capital Company Profile

(Get Rating)

PennantPark Floating Rate Capital Ltd., a traded fund, invests in middle market companies located in the United States. It targets companies operating across a broad range of sectors. It provides debt investment in mezzanine and buyout stage capital requirements.