PennantPark Floating Rate Capital (NYSE:PFLT) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

PennantPark Floating Rate Capital (NYSE:PFLT) posted its earnings results on Monday. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03), FiscalAI reports. The business had revenue of $12.72 million during the quarter. PennantPark Floating Rate Capital had a return on equity of 9.91% and a net margin of 25.39%.

PennantPark Floating Rate Capital Trading Down 0.6%

Shares of PFLT stock traded down $0.06 during trading hours on Monday, hitting $9.45. The company’s stock had a trading volume of 1,459,728 shares, compared to its average volume of 1,076,777. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.15 and a current ratio of 0.15. PennantPark Floating Rate Capital has a 12-month low of $8.40 and a 12-month high of $11.50. The stock has a 50 day simple moving average of $9.37. The stock has a market cap of $937.61 million, a PE ratio of 12.95 and a beta of 0.76.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, PennantPark Floating Rate Capital presently has an average rating of “Moderate Buy” and an average price target of $10.50.

About PennantPark Floating Rate Capital

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.