Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) – Research analysts at SunTrust Banks increased their FY2019 earnings per share estimates for shares of Pennantpark Floating Rate Capital in a report issued on Thursday, February 7th. SunTrust Banks analyst M. Hughes now forecasts that the asset manager will earn $1.21 per share for the year, up from their prior forecast of $1.20. SunTrust Banks also issued estimates for Pennantpark Floating Rate Capital’s Q2 2020 earnings at $0.32 EPS, Q3 2020 earnings at $0.32 EPS and FY2020 earnings at $1.27 EPS.
Get Pennantpark Floating Rate Capital alerts:PFLT has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Pennantpark Floating Rate Capital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 22nd. Maxim Group restated a “buy” rating and issued a $14.50 price target on shares of Pennantpark Floating Rate Capital in a research report on Thursday, February 7th. LADENBURG THALM/SH SH upgraded shares of Pennantpark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday, November 16th. BidaskClub upgraded shares of Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Finally, ValuEngine downgraded shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $14.50.
Shares of PFLT stock opened at $13.19 on Monday. The firm has a market cap of $509.46 million, a price-to-earnings ratio of 12.44 and a beta of 0.72. Pennantpark Floating Rate Capital has a 1-year low of $11.05 and a 1-year high of $14.12.
Pennantpark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings data on Wednesday, February 6th. The asset manager reported $0.30 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The company had revenue of $23.18 million during the quarter, compared to analyst estimates of $22.06 million. Pennantpark Floating Rate Capital had a net margin of 45.40% and a return on equity of 8.24%.
The firm also recently declared a monthly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 14th will be given a $0.016 dividend. The ex-dividend date is Wednesday, February 13th. This represents a $0.19 dividend on an annualized basis and a dividend yield of 1.46%. Pennantpark Floating Rate Capital’s payout ratio is currently 81.13%.
Several institutional investors have recently bought and sold shares of PFLT. LGT Capital Partners LTD. lifted its position in shares of Pennantpark Floating Rate Capital by 32.5% in the 4th quarter. LGT Capital Partners LTD. now owns 1,020,000 shares of the asset manager’s stock worth $11,801,000 after buying an additional 250,000 shares during the last quarter. PFG Advisors bought a new position in shares of Pennantpark Floating Rate Capital in the 4th quarter worth about $1,794,000. West Family Investments Inc. lifted its position in shares of Pennantpark Floating Rate Capital by 42.1% in the 4th 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 last quarter. Roosevelt Investment Group Inc. bought a new stake in Pennantpark Floating Rate Capital in the 4th quarter valued at about $1,072,000. Finally, Wiley BROS. Aintree Capital LLC bought a new stake in Pennantpark Floating Rate Capital in the 4th quarter valued at about $693,000. Institutional investors own 34.60% 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.
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