PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) stock jumped 0.68% on Monday to $11.81 against a previous-day closing price of $11.73. With 0.3 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.21 million shares. During the session, the Asset Management company that operates in wider Financial sector, reached to the highest price of $11.84 whereas the lowest price it dropped to was $11.72. The 52-week range on PFLT shows that it touched its highest point at $14.38 and its lowest point at $9.43 during that stretch. It currently has a 1-year price target of $12.60. With its current market cap of 535.53 million, PFLT has annualized dividend of $1.14 while the current yield stands at 9.65%.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PFLT was down-trending over the past week, with a drop of -2.56%, but this was up by 8.85% over a month. Three-month performance surged to 14.00% while six-month performance fell -4.53%. The stock lost -9.15% in the past year, while it has gained 7.56% so far this year. A look at the trailing 12-month EPS for PFLT yields 0.08 with Next year EPS estimates of 1.25. For the next quarter, that number is 0.30. This implies an EPS growth rate of 2.50% for this year and 3.30% for next year.
Float and Shares Shorts:
At present, 45.35 million PFLT shares are outstanding with a float of 44.45 million shares on hand for trading. On Dec 29, 2022, short shares totaled 0.94 million, which was 2.07% higher than short shares on Nov 29, 2022. In addition to Mr. Arthur Howard Penn as the firm’s Founder, Chairman & CEO, Mr. Richard Thomas Allorto Jr., CPA, CPA serves as its CFO & Treasurer.
Through their ownership of 23.65% of PFLT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of PFLT, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 1.29% stake in PFLT, the VanEck Vectors – BDC Income ETF is the largest stakeholder. A total of 584,777 shares are owned by the mutual fund manager. The iShares II Plc – Listed Private E, which owns about 0.82% of PFLT stock, is the second-largest Mutual Fund holder. It holds 369,582 shares valued at 4.06 million. Altshuler Shaham Protected Global holds 0.24% of the stake in PFLT, owning 109,159 shares worth 1.2 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. EBITDA for the full year was $72.61M.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PFLT since 6 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PFLT analysts setting a high price target of $13.00 and a low target of $11.00, the average target price over the next 12 months is $12.38. Based on these targets, PFLT could surge 10.08% to reach the target high and fall by -6.86% to reach the target low. Reaching the average price target will result in a growth of 4.83% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PFLT will report FY 2023 earnings on 11/15/2023. Analysts have provided yearly estimates in a range of $1.29 being high and $1.14 being low. For PFLT, this leads to a yearly average estimate of $1.22. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. PennantPark Floating Rate Capital Ltd. surprised analysts by -$0.00 when it reported $0.29 EPS against a consensus estimate of $0.29. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is $0.31 and the low estimate is $0.29. The average estimate for the next quarter is thus $0.30.
Summary of Insider Activity:
Insiders traded PFLT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 0 while 4,000 shares were sold.