Wall Street analysts expect that PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) will report earnings per share of $0.35 for the current quarter, Zacks reports. Two analysts have provided estimates for PennantPark Floating Rate Capital’s earnings. The lowest EPS estimate is $0.34 and the highest is $0.36. PennantPark Floating Rate Capital posted earnings of $0.31 per share in the same quarter last year, which indicates a positive year over year growth rate of 12.9%. The business is expected to issue its next earnings report on Tuesday, November 28th.

According to Zacks, analysts expect that PennantPark Floating Rate Capital will report full year earnings of $1.15 per share for the current year, with EPS estimates ranging from $1.13 to $1.17. For the next year, analysts forecast that the business will report earnings of $1.18 per share, with EPS estimates ranging from $1.16 to $1.20. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow PennantPark Floating Rate Capital.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings data on Tuesday, August 8th. The asset manager reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). The firm had revenue of $15.19 million during the quarter, compared to analyst estimates of $15.17 million. PennantPark Floating Rate Capital had a net margin of 73.28% and a return on equity of 7.26%.

Several brokerages have weighed in on PFLT. BidaskClub lowered PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research raised PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Wednesday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $15.50 target price on shares of PennantPark Floating Rate Capital in a research report on Thursday, August 31st. Finally, Maxim Group reaffirmed a “buy” rating and issued a $14.75 target price on shares of PennantPark Floating Rate Capital in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $15.00.

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PennantPark Floating Rate Capital (PFLT) traded down 0.168% during trading on Monday, hitting $14.256. The stock had a trading volume of 23,185 shares. The company has a 50 day moving average of $14.21 and a 200-day moving average of $14.02. PennantPark Floating Rate Capital has a 12-month low of $12.21 and a 12-month high of $14.45.

The company also recently announced a monthly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Wednesday, September 20th will be given a $0.095 dividend. This represents a $1.14 annualized dividend and a yield of 7.98%. The ex-dividend date of this dividend is Tuesday, September 19th. PennantPark Floating Rate Capital’s payout ratio is currently 78.08%.

A number of hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership acquired a new position in PennantPark Floating Rate Capital in the 2nd quarter worth about $1,764,000. Shelton Capital Management boosted its stake in shares of PennantPark Floating Rate Capital by 102.9% during the 2nd quarter. Shelton Capital Management now owns 69,000 shares of the asset manager’s stock worth $974,000 after acquiring an additional 35,000 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in shares of PennantPark Floating Rate Capital by 1.2% during the 2nd quarter. Punch & Associates Investment Management Inc. now owns 763,910 shares of the asset manager’s stock worth $10,779,000 after acquiring an additional 9,074 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of PennantPark Floating Rate Capital by 12.2% during the 2nd quarter. Royal Bank of Canada now owns 55,473 shares of the asset manager’s stock worth $783,000 after acquiring an additional 6,019 shares in the last quarter. Finally, Optimum Investment Advisors boosted its stake in shares of PennantPark Floating Rate Capital by 17.7% during the 2nd quarter. Optimum Investment Advisors now owns 54,186 shares of the asset manager’s stock worth $765,000 after acquiring an additional 8,147 shares in the last quarter. 31.56% of the stock is currently owned by institutional investors.

PennantPark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.

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