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Investing.com - JMP Securities has reiterated its Market Outperform rating on PennantPark Floating Rate Capital (NYSE:PFLT), maintaining its price target of $11.00 per share. The stock, currently trading at $10.20, has shown resilience with a 3.3% return over the past year. According to InvestingPro data, PFLT maintains an overall "GOOD" financial health rating.
The firm reduced its fiscal year 2025 earnings per share estimate to $1.15 from $1.20, primarily reflecting what it described as a third-quarter 2025 shortfall.
JMP made no changes to its fiscal year 2026 earnings per share estimate, which remains at $1.18.
The $11.00 price target represents approximately a 1.00x multiple on JMP’s forward net asset value (NAV) estimate for the company.
PennantPark Floating Rate Capital is a business development company that primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans. With a market capitalization of $1.01 billion and a P/E ratio of 12.52, PFLT is among the 1,400+ companies covered by comprehensive Pro Research Reports available exclusively on InvestingPro.
In other recent news, PennantPark Floating Rate Capital reported its third-quarter 2025 earnings, which fell short of analyst expectations. The company posted an earnings per share (EPS) of $0.27, missing the forecasted $0.29. Revenue also did not meet projections, totaling $63.5 million compared to the anticipated $66.04 million. Additionally, Keefe, Bruyette & Woods adjusted their price target for PennantPark Floating Rate Capital, reducing it from $11.00 to $10.50, while maintaining a Market Perform rating. The firm noted a mixed quarter for the company, highlighting an earnings miss and slight portfolio depreciation. However, they acknowledged a decline in non-accruals during the period. These developments provide investors with important insights into the company’s recent performance and market outlook.
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