$22.90 Million in Sales Expected for Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) This Quarter

Share on StockTwits

Equities research analysts predict that Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) will announce sales of $22.90 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Pennantpark Floating Rate Capital’s earnings. The lowest sales estimate is $22.87 million and the highest is $22.93 million. Pennantpark Floating Rate Capital reported sales of $19.53 million in the same quarter last year, which would suggest a positive year over year growth rate of 17.3%. The firm is expected to report its next earnings results on Wednesday, August 14th.

On average, analysts expect that Pennantpark Floating Rate Capital will report full year sales of $92.59 million for the current fiscal year, with estimates ranging from $91.76 million to $93.43 million. For the next year, analysts anticipate that the company will report sales of $96.56 million, with estimates ranging from $91.01 million to $102.11 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Pennantpark Floating Rate Capital.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings data on Wednesday, May 8th. The asset manager reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $23.01 million for the quarter, compared to analysts’ expectations of $22.99 million. Pennantpark Floating Rate Capital had a net margin of 17.80% and a return on equity of 8.80%.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. LADENBURG THALM/SH SH cut shares of Pennantpark Floating Rate Capital from a “buy” rating to a “neutral” rating in a research report on Monday, May 13th. TheStreet cut shares of Pennantpark Floating Rate Capital from a “b-” rating to a “c+” rating in a research report on Wednesday, May 22nd. BidaskClub cut shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Finally, Keefe, Bruyette & Woods cut shares of Pennantpark Floating Rate Capital from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $14.00 to $13.00 in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $14.13.

Shares of Pennantpark Floating Rate Capital stock traded down $0.04 on Friday, hitting $11.62. 80,255 shares of the company traded hands, compared to its average volume of 172,364. The stock has a market cap of $455.96 million, a P/E ratio of 10.96 and a beta of 0.78. Pennantpark Floating Rate Capital has a 52 week low of $11.05 and a 52 week high of $14.07.

The firm also recently declared a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.095 dividend. This represents a $1.14 annualized dividend and a yield of 9.81%. The ex-dividend date of this dividend is Friday, June 14th. Pennantpark Floating Rate Capital’s dividend payout ratio is presently 107.55%.

In other Pennantpark Floating Rate Capital news, CFO Aviv Efrat purchased 8,200 shares of Pennantpark Floating Rate Capital stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $12.05 per share, for a total transaction of $98,810.00. Following the completion of the transaction, the chief financial officer now owns 36,950 shares of the company’s stock, valued at approximately $445,247.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arthur H. Penn purchased 7,000 shares of Pennantpark Floating Rate Capital stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $12.10 per share, for a total transaction of $84,700.00. The disclosure for this purchase can be found here. Insiders purchased 62,000 shares of company stock worth $749,945 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PFLT. B. Riley Wealth Management Inc. bought a new stake in Pennantpark Floating Rate Capital in the fourth quarter worth $2,218,000. PFG Advisors purchased a new position in Pennantpark Floating Rate Capital during the fourth quarter worth $1,958,000. West Family Investments Inc. boosted its stake in Pennantpark Floating Rate Capital by 42.1% during the fourth quarter. West Family Investments Inc. now owns 378,669 shares of the asset manager’s stock worth $4,385,000 after buying an additional 112,252 shares during the period. Roosevelt Investment Group Inc. purchased a new position in Pennantpark Floating Rate Capital during the fourth quarter worth $1,072,000. Finally, Sound Income Strategies LLC boosted its stake in Pennantpark Floating Rate Capital by 8.4% during the first quarter. Sound Income Strategies LLC now owns 1,172,567 shares of the asset manager’s stock worth $15,021,000 after buying an additional 90,537 shares during the period. Institutional investors own 35.22% of the company’s stock.

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.

See Also: Options Trading

Get a free copy of the Zacks research report on Pennantpark Floating Rate Capital (PFLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

Receive News & Ratings for Pennantpark Floating Rate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennantpark Floating Rate Capital and related companies with MarketBeat.com's FREE daily email newsletter.