PennantPark Floating Rate Capital Ltd. (PFLT) To Go Ex-Dividend on November 13th

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) declared a monthly dividend on Tuesday, November 3rd. Stockholders of record on Friday, November 13th will be paid a dividend of $0.08 per share on Tuesday, December 1st. This represents a $0.96 annualized dividend and a dividend yield of 13.7%. The ex-dividend date is Friday, November 13th.

PennantPark Floating Rate Capital Stock Up 2.9%

PFLT opened at $6.99 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market capitalization of $693.05 million, a PE ratio of 6.29 and a beta of 0.79. The stock’s fifty day moving average is $6.91 and its 200-day moving average is $7.83. PennantPark Floating Rate Capital has a one year low of $6.15 and a one year high of $9.75.

PennantPark Floating Rate Capital (NYSE:PFLT) last announced its earnings results on Monday, August 10th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $66.09 million for the quarter. PennantPark Floating Rate Capital had a net margin of 18.53% and a return on equity of 10.24%. On average, equities analysts predict that PennantPark Floating Rate Capital will post 1.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PFLT shares. UBS Group began coverage on shares of PennantPark Floating Rate Capital in a research note on Friday, October 9th. They issued a “buy” rating and a $8.50 price objective on the stock. Weiss Ratings lowered shares of PennantPark Floating Rate Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, Zacks Research upgraded PennantPark Floating Rate Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, PennantPark Floating Rate Capital presently has a consensus rating of “Moderate Buy” and an average price target of $9.60.

About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) is a business development company that invests in privately owned, middle-market companies. Its investment portfolio is focused primarily on floating-rate, senior secured loans, particularly first-lien and unitranche debt, although it may also make select junior debt and equity investments.

The company seeks to provide financing to businesses across a range of industries, generally working with companies that may have limited access to traditional bank lending.