Media headlines about PennantPark Floating Rate Capital (NASDAQ:PFLT) have trended somewhat negative this week, Accern reports. Accern rates the sentiment of news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. PennantPark Floating Rate Capital earned a news impact score of -0.12 on Accern’s scale. Accern also assigned news articles about the asset manager an impact score of 46.9662395990325 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
PennantPark Floating Rate Capital (NASDAQ PFLT) opened at 14.25 on Wednesday. PennantPark Floating Rate Capital has a 12 month low of $12.21 and a 12 month high of $14.45. The stock’s 50 day moving average price is $14.22 and its 200 day moving average price is $14.04.
PennantPark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings data on Tuesday, August 8th. The asset manager reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). The firm had revenue of $15.19 million for the quarter, compared to analyst estimates of $15.17 million. PennantPark Floating Rate Capital had a return on equity of 7.26% and a net margin of 73.28%. On average, equities research analysts expect that PennantPark Floating Rate Capital will post $1.16 EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th will be issued a dividend of $0.095 per share. This represents a $1.14 annualized dividend and a dividend yield of 8.00%. The ex-dividend date is Tuesday, September 19th. PennantPark Floating Rate Capital’s payout ratio is 78.08%.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, August 15th. BidaskClub upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Maxim Group reiterated a “buy” rating and set a $14.75 price objective on shares of PennantPark Floating Rate Capital in a research report on Wednesday, August 9th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $15.50 price objective on shares of PennantPark Floating Rate Capital in a research report on Thursday, August 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $15.00.
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About PennantPark Floating Rate Capital
PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.
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