PennantPark Floating Rate Capital (PFLT) Stock Price, News & Analysis

Company Overview

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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments. It primarily invests between $10 million and $50 million in investments in senior secured loans and mezzanine debt. It seeks to invest in companies not rated by national rating agencies. The companies if rated would be between BB and CCC under the Standard & Poor's system. The fund invests 30% is invested in non-qualifying assets like investments in public companies whose securities are not thinly traded or do not have a market capitalization of less than $250 million, securities of middle-market companies located outside of the United States, high-yield bonds, distressed debt, private equity, securities of public companies that are not thinly traded, and investment companies as defined in the 1940 Act. Under normal conditions, the fund expects atleast 80 percent of its net assets plus any borrowings for investment purposes to be invested in Floating Rate Loans and investments with similar economic characteristics, including cash equivalents invested in money market funds. It expects to represent 65 percent of its portfolio through senior secured loans. In case of floating rate loans, it holds investments for a period of three to ten years.

Key Stats

• Today's Range: $10.56 to $10.79
• 50-Day Range: $10.67 to $11.89
• 52-Week Range: $10.28 to $12.63
• Volume: 2.44 million shs
• Average Volume: 783,553 shs
• Market Capitalization: $888.90 million
• P/E Ratio: 7.47
• Dividend Yield: 11.52%
• Price Target: $12.00
• Consensus Rating: Moderate Buy

PennantPark Floating Rate Capital Stock Analysis - MarketRank™

PennantPark Floating Rate Capital scored higher than 38% of companies evaluated by MarketBeat, and ranked 741st out of 937 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

PennantPark Floating Rate Capital has received a consensus rating of Moderate Buy. The company's average rating score is 2.67, and is based on 2 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

PennantPark Floating Rate Capital has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: -3.91%

Earnings Growth

Earnings for PennantPark Floating Rate Capital are expected to decrease by -3.91% in the coming year, from $1.28 to $1.23 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of PennantPark Floating Rate Capital is 7.47, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 116.04.

Price to Earnings Ratio vs. Sector

The P/E ratio of PennantPark Floating Rate Capital is 7.47, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 32.63.

Price to Book Value per Share Ratio

PennantPark Floating Rate Capital has a P/B Ratio of 0.89. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: N/A
• Short Interest Level: N/A

Short Interest

There is no current short interest data available for PFLT.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Leadership

PennantPark Floating Rate Capital is a leading dividend payer. It pays a dividend yield of 11.38%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

PennantPark Floating Rate Capital does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of PennantPark Floating Rate Capital is 86.01%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on EPS estimates, PennantPark Floating Rate Capital will have a dividend payout ratio of 100.00% in the coming year. This indicates that PennantPark Floating Rate Capital may not be able to sustain their current dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Short Interest

There is no current short interest data available for PFLT.

News and Social Media

• Score: 2.6 / 5
• News Sentiment: 0.65

News Sentiment

PennantPark Floating Rate Capital has a news sentiment score of 0.65. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.78 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 3 news articles for PennantPark Floating Rate Capital this week, compared to 2 articles on an average week.

Search Interest

Only 21 people have searched for PFLT on MarketBeat in the last 30 days. This is a decrease of -34% compared to the previous 30 days.

MarketBeat Follows

6 people have added PennantPark Floating Rate Capital to their MarketBeat watchlist in the last 30 days. This is an increase of 50% compared to the previous 30 days.

Company Ownership

• Score: 0.0 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, PennantPark Floating Rate Capital insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 1.00% of the stock of PennantPark Floating Rate Capital is held by insiders.

Percentage Held by Institutions

Only 19.77% of the stock of PennantPark Floating Rate Capital is held by institutions.

PFLT Stock Analysis - Frequently Asked Questions

How have PFLT shares performed this year?

PennantPark Floating Rate Capital's stock was trading at $12.10 at the beginning of 2024. Since then, PFLT shares have decreased by 11.7% and is now trading at $10.68.
View the best growth stocks for 2024 here.

How were PennantPark Floating Rate Capital's earnings last quarter?

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) posted its quarterly earnings data on Wednesday, August, 7th. The asset manager reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.32 by $0.01. The asset manager earned $48.51 million during the quarter, compared to analyst estimates of $47.63 million. PennantPark Floating Rate Capital had a trailing twelve-month return on equity of 10.88% and a net margin of 49.28%.

Who are PennantPark Floating Rate Capital's major shareholders?

PennantPark Floating Rate Capital's top institutional shareholders include Sound Income Strategies LLC (4.44%), Van ECK Associates Corp (2.45%), Advisors Asset Management Inc. (0.38%) and HighTower Advisors LLC (0.15%). Insiders that own company stock include Jose A Briones and Richard T Allorto Jr.
View institutional ownership trends.

How do I buy shares of PennantPark Floating Rate Capital?

Shares of PFLT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of PennantPark Floating Rate Capital own?

Based on aggregate information from My MarketBeat watchlists, some other companies that PennantPark Floating Rate Capital investors own include AT&T (T), NVIDIA (NVDA), AGNC Investment (AGNC), Meta Platforms (META), Altria Group (MO), Exxon Mobil (XOM) and Oxford Lane Capital (OXLC).

Company Calendar

• Last Earnings: 8/07/2024
• Ex-Dividend for 12/2 Dividend: 11/15/2024
• Dividend Payable: 12/02/2024
• Ex-Dividend for 1/2 Dividend: 12/16/2024
• Today: 12/21/2024
• Dividend Payable: 1/02/2025
• Fiscal Year End: 9/30/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: Investors, not elsewhere classified
• Sub-Industry: N/A
• Current Symbol: NASDAQ:PFLT
• CUSIP: N/A
• CIK: 1504619
• Web: www.pennantpark.com
• Phone: (212) 905-1000
• Fax: 212-905-1075
• Employees: N/A
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $12.00
• High Stock Price Target: $12.00
• Low Stock Price Target: $12.00
• Potential Upside/Downside: +12.4%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.67
• Research Coverage: 3 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.43
• Trailing P/E Ratio: 7.47
• Forward P/E Ratio: 8.34
• P/E Growth: N/A
• Net Income: $91.84 million
• Net Margins: 49.28%
• Pretax Margin: 49.28%
• Return on Equity: 10.88%
• Return on Assets: 4.89%

Debt

• Debt-to-Equity Ratio: 0.63
• Current Ratio: 0.18
• Quick Ratio: 0.18

Sales & Book Value

• Annual Sales: $108.60 million
• Price / Sales: 8.18
• Cash Flow: $0.88 per share
• Price / Cash Flow: 12.17
• Book Value: $11.95 per share
• Price / Book: 0.89

Miscellaneous

• Outstanding Shares: 83,230,000
• Free Float: 82,398,000
• Market Cap: $888.90 million
• Optionable: Optionable
• Beta: 1.65