PennantPark Floating Rate Capital Ltd. (PFLT) To Go Ex-Dividend on July 15th

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) announced a monthly dividend on Tuesday, July 2nd, NASDAQ reports. Stockholders of record on Monday, July 15th will be given a dividend of 0.1025 per share by the asset manager on Thursday, August 1st. This represents a $1.23 annualized dividend and a dividend yield of 10.54%. The ex-dividend date is Monday, July 15th.

PennantPark Floating Rate Capital has increased its dividend by an average of 1.9% per year over the last three years. PennantPark Floating Rate Capital has a dividend payout ratio of 96.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect PennantPark Floating Rate Capital to earn $1.29 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 95.3%.

PennantPark Floating Rate Capital Trading Up 0.8 %

PFLT opened at $11.68 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.71. PennantPark Floating Rate Capital has a 52 week low of $9.69 and a 52 week high of $12.63. The business’s 50 day moving average is $11.39 and its two-hundred day moving average is $11.48. The firm has a market cap of $779.07 million, a price-to-earnings ratio of 7.89 and a beta of 1.68.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its earnings results on Wednesday, May 8th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). PennantPark Floating Rate Capital had a return on equity of 11.44% and a net margin of 55.99%. The business had revenue of $44.35 million for the quarter, compared to analysts’ expectations of $40.24 million. On average, research analysts predict that PennantPark Floating Rate Capital will post 1.3 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Richard T. Allorto, Jr. bought 10,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were acquired at an average price of $11.30 per share, with a total value of $113,000.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at approximately $113,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders purchased 14,370 shares of company stock valued at $162,895. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, JMP Securities restated a “market outperform” rating and issued a $12.50 price objective on shares of PennantPark Floating Rate Capital in a research note on Tuesday, March 26th.

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.