PennantPark Floating Rate Capital Ltd. (PFLT) To Go Ex-Dividend on September 16th

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) announced a monthly dividend on Wednesday, September 4th, Wall Street Journal reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.1025 per share by the asset manager on Tuesday, October 1st. This represents a $1.23 annualized dividend and a dividend yield of 10.72%. The ex-dividend date of this dividend is Monday, September 16th.

PennantPark Floating Rate Capital has decreased its dividend payment by an average of 35.2% per year over the last three years.

PennantPark Floating Rate Capital Stock Performance

Shares of NASDAQ PFLT opened at $11.47 on Friday. PennantPark Floating Rate Capital has a 12-month low of $9.69 and a 12-month high of $12.63. The company has a market cap of $842.13 million, a PE ratio of 7.75 and a beta of 1.69. The stock has a 50 day simple moving average of $11.31 and a 200-day simple moving average of $11.33. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.60.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings results on Wednesday, August 7th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). PennantPark Floating Rate Capital had a return on equity of 10.99% and a net margin of 59.16%. The business had revenue of $48.51 million during the quarter, compared to the consensus estimate of $47.63 million. During the same period in the previous year, the company posted $0.36 EPS. On average, equities research analysts forecast that PennantPark Floating Rate Capital will post 1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

PFLT has been the subject of several recent analyst reports. JMP Securities decreased their price objective on shares of PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating for the company in a report on Tuesday, July 30th. Maxim Group raised PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Monday, August 12th. Finally, StockNews.com downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 9th.

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.