PennantPark Floating Rate Capital Ltd (NYSE:PFLT) price on Friday, February 28, rose 1.16% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $11.34.
A look at the stock’s price movement, the close in the last trading session was $11.21. The PE ratio in trailing twelve months stood at 8.28. Turning to its 52-week performance, $12.02 and $10.28 were the 52-week high and 52-week low respectively. Overall, PFLT moved 3.37% over the past month.
PennantPark Floating Rate Capital Ltd’s market cap currently stands at around $997.42 million, with investors looking forward to this quarter’s earnings report slated for in April. The company has a Forward Dividend ratio of 1.23, with its dividend yield at 10.85%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 65.81M for the company’s revenue for the quarter, with a low and high estimate of 67.58M and 67.58M respectively. The average forecast suggests up to a 48.37% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 269.9M, representing a 44.83% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PFLT is a 50% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 0 recommend PFLT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PFLT’s current price about 1.28% and 2.39% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 56.75, while 7-day volatility ratio is 1.37% and 1.61% in the 30-day chart. Further, PennantPark Floating Rate Capital Ltd (PFLT) has a beta value of 1.65, and an average true range (ATR) of 0.17. Analysts have given the company’s stock an average 52-week price target of $12, forecast between a low of $12 and high of $12. Looking at the price targets, the low is -5.82% off current price level while to achieve the yearly target high, price needs to move -5.82%. Nonetheless, investors will most likely welcome a -5.82% jump to $12 which is the analysts’ median price.
If we refocus on PennantPark Floating Rate Capital Ltd (NYSE:PFLT), historical trading data shows that trading volumes averaged 1.15 million over the past 3 months. The company’s latest data on shares outstanding shows there are 87.96 million shares.
The 0.99% of PennantPark Floating Rate Capital Ltd’s shares are in the hands of company insiders while institutional holders own 21.63% of the company’s shares. Current price change has pushed the stock 3.75% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PFLT stock continues to rise going into the next quarter.
