PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) Shareholders Set to Receive $0.08 Monthly Dividend

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) declared a monthly dividend on Tuesday, November 3rd. Shareholders of record on Friday, November 13th will be given a dividend of $0.08 per share on Tuesday, December 1st. This represents a $0.96 annualized dividend and a yield of 14.1%. The ex-dividend date of this dividend is Friday, November 13th.

PennantPark Floating Rate Capital Stock Down 1.8%

NYSE:PFLT opened at $6.80 on Wednesday. PennantPark Floating Rate Capital has a 1 year low of $6.15 and a 1 year high of $9.75. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.94. The stock has a market cap of $675.19 million, a price-to-earnings ratio of 6.42 and a beta of 0.79. The stock has a 50-day moving average price of $6.92 and a two-hundred day moving average price of $7.84.

PennantPark Floating Rate Capital (NYSE:PFLT) last released its quarterly earnings results on Monday, August 10th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The business had revenue of $66.09 million for the quarter. PennantPark Floating Rate Capital had a return on equity of 10.24% and a net margin of 18.53%. As a group, equities analysts expect that PennantPark Floating Rate Capital will post 1.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PFLT. UBS Group started coverage on PennantPark Floating Rate Capital in a research report on Friday, October 9th. They issued a “buy” rating and a $8.50 price objective for the company. Zacks Research upgraded shares of PennantPark Floating Rate Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Weiss Ratings lowered shares of PennantPark Floating Rate Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.60.

PennantPark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) is a business development company that invests in privately owned, middle-market companies. Its investment portfolio is focused primarily on floating-rate, senior secured loans, particularly first-lien and unitranche debt, although it may also make select junior debt and equity investments.

The company seeks to provide financing to businesses across a range of industries, generally working with companies that may have limited access to traditional bank lending.