Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) announced a monthly dividend on Monday, March 5th, Zacks reports. Shareholders of record on Monday, March 19th will be paid a dividend of 0.095 per share by the asset manager on Monday, April 2nd. This represents a $1.14 annualized dividend and a yield of 8.68%. The ex-dividend date is Friday, March 16th.
Shares of Pennantpark Floating Rate Capital stock opened at $13.14 on Thursday. Pennantpark Floating Rate Capital has a 12 month low of $12.00 and a 12 month high of $14.65. The company has a market cap of $509.08, a P/E ratio of 12.05 and a beta of 0.60.
Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its earnings results on Thursday, February 8th. The asset manager reported $0.25 EPS for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $15.29 million. During the same period in the previous year, the company posted $0.28 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. equities analysts predict that Pennantpark Floating Rate Capital will post 0.74 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on PFLT shares. Zacks Investment Research downgraded shares of Pennantpark Floating Rate Capital from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 5th. BidaskClub downgraded shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. Maxim Group reissued a “buy” rating and set a $14.75 price objective on shares of Pennantpark Floating Rate Capital in a research report on Friday, December 1st. ValuEngine raised shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Keefe, Bruyette & Woods set a $15.00 price objective on shares of Pennantpark Floating Rate Capital and gave the stock a “buy” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.94.
In other Pennantpark Floating Rate Capital news, insider Arthur H. Penn bought 10,000 shares of Pennantpark Floating Rate Capital stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $12.57 per share, for a total transaction of $125,700.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Samuel L. Katz bought 17,000 shares of Pennantpark Floating Rate Capital stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $12.64 per share, with a total value of $214,880.00. Following the acquisition, 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 purchased 36,000 shares of company stock valued at $457,400 in the last 90 days. 1.00% of the stock is currently owned by corporate 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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