PennantPark Floating Rate Capital Ltd. (PFLT) To Go Ex-Dividend on June 15th

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) declared a monthly dividend on Tuesday, June 2nd. Shareholders of record on Monday, June 15th will be paid a dividend of 0.0833 per share on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a yield of 12.4%. The ex-dividend date of this dividend is Monday, June 15th.

PennantPark Floating Rate Capital has raised its dividend payment by an average of 0.0%per year over the last three years.

PennantPark Floating Rate Capital Stock Down 3.4%

Shares of PennantPark Floating Rate Capital stock opened at $8.05 on Thursday. The company has a market cap of $799.12 million, a P/E ratio of 12.99 and a beta of 0.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.18 and a current ratio of 0.18. PennantPark Floating Rate Capital has a one year low of $7.68 and a one year high of $10.88. The firm has a fifty day moving average of $8.45 and a two-hundred day moving average of $8.81.

PennantPark Floating Rate Capital (NYSE:PFLT) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). PennantPark Floating Rate Capital had a return on equity of 9.95% and a net margin of 23.08%.The company had revenue of $44.81 million for the quarter. On average, analysts forecast that PennantPark Floating Rate Capital will post 1.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PFLT. Wall Street Zen raised shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Maxim Group set a $10.50 price target on shares of PennantPark Floating Rate Capital in a research note on Wednesday, February 11th. Truist Financial lowered their price target on shares of PennantPark Floating Rate Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Keefe, Bruyette & Woods lowered their price target on shares of PennantPark Floating Rate Capital from $10.50 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.80.

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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.