PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Announces $0.10 Monthly Dividend

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declared a monthly dividend on Monday, November 4th, NASDAQ reports. Investors of record on Friday, November 15th will be paid a dividend of 0.1025 per share by the asset manager on Monday, December 2nd. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.11%. The ex-dividend date is Friday, November 15th.

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

PFLT traded up $0.07 during trading on Tuesday, reaching $11.07. 518,341 shares of the company’s stock were exchanged, compared to its average volume of 768,586. PennantPark Floating Rate Capital has a fifty-two week low of $10.28 and a fifty-two week high of $12.63. The company has a market capitalization of $812.76 million, a P/E ratio of 6.83 and a beta of 1.69. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $11.48 and a 200 day moving average price of $11.40.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last posted its earnings results on Wednesday, August 7th. The asset manager reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 59.16% and a return on equity of 10.99%. During the same period in the previous year, the firm earned $0.36 EPS. As a group, analysts predict that PennantPark Floating Rate Capital will post 1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com lowered PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. JMP Securities lowered their target price on shares of PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 30th. Finally, Maxim Group upgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Monday, August 12th.

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.