News headlines about Pennantpark Floating Rate Capital (NASDAQ:PFLT) have been trending somewhat negative this week, according to Accern Sentiment. Accern identifies negative and positive media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Pennantpark Floating Rate Capital earned a coverage optimism score of -0.20 on Accern’s scale. Accern also gave headlines about the asset manager an impact score of 46.3072771214991 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Pennantpark Floating Rate Capital stock opened at $13.02 on Monday. The company has a market cap of $504.81, a PE ratio of 14.15 and a beta of 0.60. Pennantpark Floating Rate Capital has a 12-month low of $12.00 and a 12-month high of $14.65.
Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings results on Thursday, February 8th. The asset manager reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.01). Pennantpark Floating Rate Capital had a net margin of 47.64% and a return on equity of 7.49%. The firm had revenue of $14.84 million during the quarter, compared to analyst estimates of $15.29 million. During the same quarter last year, the firm earned $0.28 earnings per share. Pennantpark Floating Rate Capital’s quarterly revenue was up 17.5% on a year-over-year basis. equities research analysts forecast that Pennantpark Floating Rate Capital will post 0.74 EPS for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 19th will be given a dividend of $0.095 per share. The ex-dividend date is Friday, March 16th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 8.76%. Pennantpark Floating Rate Capital’s payout ratio is 123.91%.
A number of equities analysts have commented on PFLT shares. Maxim Group reduced their price target on shares of Pennantpark Floating Rate Capital from $14.75 to $14.00 and set a “buy” rating on the stock in a research report on Monday, February 12th. Keefe, Bruyette & Woods set a $15.00 price target on shares of Pennantpark Floating Rate Capital and gave the company a “buy” rating in a research report on Friday, February 9th. ValuEngine upgraded shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. BidaskClub upgraded shares of Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, Zacks Investment Research upgraded shares of Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $14.94.
In related news, insider Arthur H. Penn bought 10,000 shares of Pennantpark Floating Rate Capital stock in a transaction dated Monday, February 12th. The shares were bought at an average cost of $12.57 per share, for a total transaction of $125,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Samuel L. Katz bought 17,000 shares of Pennantpark Floating Rate Capital stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $12.64 per share, for a total transaction of $214,880.00. Following the completion of the transaction, the director now directly owns 136,800 shares of the company’s stock, valued at approximately $1,729,152. The disclosure for this purchase can be found here. Insiders have bought 36,000 shares of company stock worth $457,400 over the last quarter. 1.00% of the stock is owned by company insiders.
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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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