Recap: PennantPark Floating Rate Q1 Earnings

Shares of PennantPark Floating Rate PFLT fell in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share fell 10.34% over the past year to $0.26, which missed the estimate of $0.27.

Revenue of $20,733,000 decreased by 15.85% from the same period last year, which missed the estimate of $21,720,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Recent Stock Performance

52-week high: $12.67

52-week low: $3.34

Price action over last quarter: Up 15.96%

Company Overview

PennantPark Floating Rate Capital Ltd is a closed-end, externally managed, non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing in Floating Rate Loans and other investments made to U.S. middle-market companies. The company believes that Floating Rate Loans to U.S. middle-market companies offer attractive risk-reward to investors due to a limited amount of capital available for such companies and the potential for rising interest rates.