Equities research analysts expect Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) to post $24.15 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Pennantpark Floating Rate Capital’s earnings, with the lowest sales estimate coming in at $23.94 million and the highest estimate coming in at $24.36 million. Pennantpark Floating Rate Capital reported sales of $23.18 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.2%. The business is expected to announce its next earnings report on Wednesday, February 5th.
On average, analysts expect that Pennantpark Floating Rate Capital will report full-year sales of $99.39 million for the current fiscal year, with estimates ranging from $98.86 million to $99.92 million. For the next year, analysts anticipate that the business will post sales of $106.61 million, with estimates ranging from $106.53 million to $106.69 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Pennantpark Floating Rate Capital.
Pennantpark Floating Rate Capital (NASDAQ:PFLT) last announced its earnings results on Wednesday, November 20th. The asset manager reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. The business had revenue of $23.88 million for the quarter, compared to the consensus estimate of $23.53 million. Pennantpark Floating Rate Capital had a return on equity of 8.97% and a net margin of 12.28%.
In other Pennantpark Floating Rate Capital news, CEO Arthur H. Penn acquired 9,000 shares of the stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of $11.78 per share, for a total transaction of $106,020.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Arthur H. Penn acquired 8,000 shares of the stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $12.03 per share, with a total value of $96,240.00. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. acquired a new stake in Pennantpark Floating Rate Capital during the 2nd quarter valued at approximately $71,000. Commonwealth Equity Services LLC acquired a new stake in Pennantpark Floating Rate Capital during the 3rd quarter valued at approximately $128,000. Citadel Advisors LLC acquired a new stake in Pennantpark Floating Rate Capital during the 2nd quarter valued at approximately $133,000. Rational Advisors LLC acquired a new stake in Pennantpark Floating Rate Capital during the 3rd quarter valued at approximately $172,000. Finally, PVG Asset Management Corp acquired a new stake in Pennantpark Floating Rate Capital during the 3rd quarter valued at approximately $185,000. Hedge funds and other institutional investors own 35.79% of the company’s stock.
Shares of NASDAQ:PFLT traded up $0.08 during mid-day trading on Friday, hitting $12.43. 173,579 shares of the company traded hands, compared to its average volume of 159,628. The firm has a market cap of $478.83 million, a P/E ratio of 10.62 and a beta of 0.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16. Pennantpark Floating Rate Capital has a 52-week low of $11.05 and a 52-week high of $13.42. The firm’s 50 day simple moving average is $11.93 and its 200 day simple moving average is $11.68.
The business also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 19th will be issued a dividend of $0.095 per share. The ex-dividend date is Wednesday, December 18th. This represents a $1.14 annualized dividend and a dividend yield of 9.17%. Pennantpark Floating Rate Capital’s 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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