Pennantpark Floating Rate Capital Ltd (PFLT) Given Consensus Rating of “Hold” by Brokerages

Shares of Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) have been assigned an average rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $15.13.

PFLT has been the subject of several recent research reports. BidaskClub raised shares of Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Zacks Investment Research lowered shares of Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a report on Saturday, September 23rd. Keefe, Bruyette & Woods set a $16.00 target price on shares of Pennantpark Floating Rate Capital and gave the company a “buy” rating in a report on Thursday, October 5th. Maxim Group reaffirmed a “buy” rating and set a $14.75 target price on shares of Pennantpark Floating Rate Capital in a report on Friday, December 1st. Finally, ValuEngine raised shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st.

Institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in Pennantpark Floating Rate Capital in the 3rd quarter valued at $147,000. CIBC World Markets Inc. acquired a new stake in Pennantpark Floating Rate Capital in the 2nd quarter valued at $202,000. GSA Capital Partners LLP acquired a new stake in Pennantpark Floating Rate Capital in the 2nd quarter valued at $207,000. First Allied Advisory Services Inc. grew its stake in Pennantpark Floating Rate Capital by 1.6% in the 2nd quarter. First Allied Advisory Services Inc. now owns 19,160 shares of the asset manager’s stock valued at $269,000 after acquiring an additional 299 shares during the period. Finally, Garner Asset Management Corp acquired a new stake in Pennantpark Floating Rate Capital in the 2nd quarter valued at $320,000. 25.92% of the stock is currently owned by hedge funds and other institutional investors.

Pennantpark Floating Rate Capital (NASDAQ PFLT) traded up $0.15 during trading hours on Tuesday, hitting $13.68. 222,023 shares of the stock traded hands, compared to its average volume of 233,077. The stock has a market cap of $526.41, a price-to-earnings ratio of 12.44 and a beta of 0.59. Pennantpark Floating Rate Capital has a 52-week low of $13.24 and a 52-week high of $14.65.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last posted its earnings results on Thursday, November 30th. The asset manager reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). The firm had revenue of $18.45 million for the quarter, compared to analysts’ expectations of $19.40 million. Pennantpark Floating Rate Capital had a net margin of 61.05% and a return on equity of 7.66%. Pennantpark Floating Rate Capital’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. sell-side analysts anticipate that Pennantpark Floating Rate Capital will post 1.08 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Thursday, February 1st. Investors of record on Thursday, January 18th will be paid a $0.095 dividend. The ex-dividend date is Wednesday, January 17th. This represents a $1.14 dividend on an annualized basis and a yield of 8.33%. Pennantpark Floating Rate Capital’s dividend payout ratio is currently 95.00%.

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About Pennantpark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.

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