Wall Street analysts expect Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) to report sales of $25.46 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Pennantpark Floating Rate Capital’s earnings, with the highest sales estimate coming in at $26.52 million and the lowest estimate coming in at $24.40 million. Pennantpark Floating Rate Capital posted sales of $22.88 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.3%. The firm is expected to announce its next quarterly earnings report on Wednesday, August 5th.
According to Zacks, analysts expect that Pennantpark Floating Rate Capital will report full-year sales of $102.06 million for the current fiscal year, with estimates ranging from $100.10 million to $104.01 million. For the next year, analysts expect that the business will post sales of $104.40 million, with estimates ranging from $102.70 million to $106.09 million. Zacks’ sales 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 posted its quarterly earnings results on Monday, May 11th. The asset manager reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. Pennantpark Floating Rate Capital had a net margin of 0.78% and a return on equity of 9.20%. The company had revenue of $26.33 million during the quarter, compared to analyst estimates of $24.69 million.
Shares of NASDAQ PFLT opened at $8.41 on Tuesday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.48. Pennantpark Floating Rate Capital has a 12 month low of $3.34 and a 12 month high of $12.67. The firm has a market capitalization of $317.14 million, a PE ratio of 420.71 and a beta of 1.83. The firm has a fifty day simple moving average of $8.22 and a two-hundred day simple moving average of $9.36.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.14 annualized dividend and a dividend yield of 13.56%. Pennantpark Floating Rate Capital’s payout ratio is 97.44%.
In other Pennantpark Floating Rate Capital news, Director Samuel L. Katz purchased 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average cost of $8.83 per share, for a total transaction of $132,450.00. Following the purchase, the director now directly owns 206,800 shares in the company, valued at $1,826,044. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC raised its stake in Pennantpark Floating Rate Capital by 18.5% during the 1st quarter. HighTower Advisors LLC now owns 178,220 shares of the asset manager’s stock worth $867,000 after acquiring an additional 27,839 shares during the period. Advisor Group Holdings Inc. purchased a new position in Pennantpark Floating Rate Capital during the first quarter worth $1,564,000. Pin Oak Investment Advisors Inc. boosted its stake in Pennantpark Floating Rate Capital by 33.5% during the first quarter. Pin Oak Investment Advisors Inc. now owns 319,377 shares of the asset manager’s stock worth $1,552,000 after buying an additional 80,136 shares during the period. Paloma Partners Management Co purchased a new stake in shares of Pennantpark Floating Rate Capital during the first quarter valued at $58,000. Finally, Jane Street Group LLC purchased a new stake in shares of Pennantpark Floating Rate Capital during the first quarter valued at $70,000. 36.23% of the stock is currently owned by hedge funds and other institutional investors.
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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