PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Get Free Report) declared a monthly dividend on Wednesday, October 2nd, Wall Street Journal reports. Investors of record on Wednesday, October 16th will be paid a dividend of 0.1025 per share by the asset manager on Friday, November 1st. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.55%. The ex-dividend date is Wednesday, October 16th.
PennantPark Floating Rate Capital has decreased its dividend by an average of 35.2% per year over the last three years.
PennantPark Floating Rate Capital Stock Performance
Shares of PFLT stock traded up $0.14 during trading on Thursday, reaching $11.66. The company had a trading volume of 555,769 shares, compared to its average volume of 768,670. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.22 and a quick ratio of 0.22. The firm's 50 day simple moving average is $11.25 and its two-hundred day simple moving average is $11.35. The company has a market capitalization of $856.08 million, a PE ratio of 7.86 and a beta of 1.68. PennantPark Floating Rate Capital has a one year low of $9.69 and a one year high of $12.63.
PennantPark Floating Rate Capital (NASDAQ:PFLT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The asset manager reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The business had revenue of $48.51 million during the quarter, compared to the consensus estimate of $47.63 million. PennantPark Floating Rate Capital had a return on equity of 10.99% and a net margin of 59.16%. During the same period in the prior year, the firm earned $0.36 earnings per share. Sell-side analysts forecast that PennantPark Floating Rate Capital will post 1.28 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have commented on PFLT. JMP Securities dropped their price target on PennantPark Floating Rate Capital from $12.50 to $12.00 and set a "market outperform" rating on the stock in a research report on Tuesday, July 30th. Maxim Group raised PennantPark Floating Rate Capital from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a research report on Monday, August 12th. Finally, StockNews.com lowered PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a report on Friday, August 9th.
Read Our Latest Stock Report on PFLT
About PennantPark Floating Rate Capital
(
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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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