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 Friday, October 2nd, Zacks reports. Investors of record on Wednesday, October 21st will be given a dividend of 0.095 per share by the asset manager on Monday, November 2nd. This represents a $1.14 annualized dividend and a yield of 13.12%. The ex-dividend date is Tuesday, October 20th.

Pennantpark Floating Rate Capital has a payout ratio of 102.7% indicating that 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 twelve month low of $3.34 and a twelve month high of $12.67. The stock has a market cap of $336.91 million, a price-to-earnings ratio of 39.50 and a beta of 1.78. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.48. The business’s fifty day moving average is $8.54 and its 200 day moving average is $7.91.

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

Several equities analysts have recently issued reports on the stock. ValuEngine lowered shares of Pennantpark Floating Rate Capital from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. TheStreet raised Pennantpark Floating Rate Capital from a “d+” rating to a “c” rating in a research report on Monday, August 24th. Maxim Group reissued a “hold” rating on shares of Pennantpark Floating Rate Capital in a report on Tuesday, August 11th. Zacks Investment Research upgraded Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Finally, BidaskClub lowered Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, July 7th. One research 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. The stock currently has a consensus rating of “Hold” and a consensus 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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