Oppenheimer Research Analysts Increase Earnings Estimates for PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLTGet Rating) – Stock analysts at Oppenheimer boosted their Q1 2023 earnings estimates for shares of PennantPark Floating Rate Capital in a report released on Thursday, November 17th. Oppenheimer analyst M. Penn now forecasts that the asset manager will post earnings of $0.31 per share for the quarter, up from their previous forecast of $0.30. The consensus estimate for PennantPark Floating Rate Capital’s current full-year earnings is $1.26 per share. Oppenheimer also issued estimates for PennantPark Floating Rate Capital’s Q2 2023 earnings at $0.32 EPS, Q3 2023 earnings at $0.33 EPS, Q4 2023 earnings at $0.33 EPS and FY2023 earnings at $1.29 EPS.

Separately, StockNews.com began coverage on shares of PennantPark Floating Rate Capital in a report on Wednesday, October 12th. They issued a “sell” rating for the company.

PennantPark Floating Rate Capital Stock Up 0.1 %

Shares of PFLT opened at $11.18 on Monday. PennantPark Floating Rate Capital has a 52 week low of $9.43 and a 52 week high of $14.38. The firm has a market cap of $506.97 million, a P/E ratio of 124.22 and a beta of 1.69. The firm’s 50-day simple moving average is $10.82 and its 200 day simple moving average is $11.58. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.10 and a current ratio of 0.10.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be given a $0.095 dividend. This represents a $1.14 annualized dividend and a yield of 10.20%. The ex-dividend date is Wednesday, November 16th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 1,266.67%.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AllSquare Wealth Management LLC boosted its stake in PennantPark Floating Rate Capital by 6.5% during the first quarter. AllSquare Wealth Management LLC now owns 19,800 shares of the asset manager’s stock worth $267,000 after acquiring an additional 1,200 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in PennantPark Floating Rate Capital during the first quarter worth about $227,000. Crescent Grove Advisors LLC purchased a new position in PennantPark Floating Rate Capital during the first quarter worth about $203,000. Wambolt & Associates LLC purchased a new position in PennantPark Floating Rate Capital during the first quarter worth about $218,000. Finally, Van ECK Associates Corp boosted its holdings in PennantPark Floating Rate Capital by 53.6% during the first quarter. Van ECK Associates Corp now owns 912,403 shares of the asset manager’s stock worth $12,326,000 after purchasing an additional 318,567 shares during the last quarter. 20.61% of the stock is currently owned by institutional investors and hedge funds.

About PennantPark Floating Rate Capital

(Get Rating)

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.

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Earnings History and Estimates for PennantPark Floating Rate Capital (NASDAQ:PFLT)

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