We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What's in the Cards for PennantPark (PFLT) in Q3 Earnings?
Read MoreHide Full Article
PennantPark Floating Rate Capital Ltd. (PFLT - Free Report) is slated to report third-quarter fiscal 2023 (ended Jun 30) results on Aug 9, after market close. Its quarterly revenues and earnings are projected to have improved year over year.
In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate. Results reflected an increase in total investment income and higher expenses.
The company does not have an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in one and met in two of the trailing four quarters, the average beat being 2.4%.
PennantPark Floating Rate Capital Ltd. Price and EPS Surprise
Moreover, activities of the company in the fiscal third quarter seem inadequate to win analysts’ confidence. The Zacks Consensus Estimate for PFLT’s fiscal third-quarter earnings of 33 cents has been unchanged over the past 30 days. The figure suggests a year-over-year rise of 13.8%.
The Zacks Consensus Estimate for sales of $34.2 million indicates an increase of 33% from the prior-year quarter’s reported number.
Other Key Estimates for Q3
The Zacks Consensus Estimate for interest income (from controlled, affiliated investments) is pegged at $7.64 million, suggesting a year-over-year rise of 80.6%.
The Zacks Consensus Estimate for dividend income (from controlled, affiliated investments) is pinned at $2.98 million, suggesting a decline of 24.4% from the previous-year quarter’s reported figure.
Earnings Whispers
According to our proven model, it cannot be conclusively predicted whether PennantPark will be able to beat the Zacks Consensus Estimate for earnings this time around. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESP and Zacks Rank #3 (Hold) or higher.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for PennantPark is 0.00%.
Zacks Rank: The company currently carries a Zacks Rank #3.
Ares Capital Corporation’s (ARCC - Free Report) second-quarter 2023 core earnings of 58 cents per share surpassed the Zacks Consensus Estimate by a penny. The bottom line also reflected a rise of 26.1% from the prior-year quarter.
Results were primarily aided by an improvement in total investment income. Also, ARCC’s portfolio activity was robust in the quarter. However, an increase in expenses hurt Ares Capital’s results to some extent.
Capital One’s (COF - Free Report) second-quarter 2023 earnings of $3.52 per share surpassed the Zacks Consensus Estimate of $3.31. However, the bottom line tanked 29% from the year-ago quarter.
COF’s results were aided by increases in net interest income and fee income. However, despite higher rates, the net interest margin declined year over year. Also, higher expenses, along with a significant rise in provisions, were the undermining factors for COF.
Image: Bigstock
What's in the Cards for PennantPark (PFLT) in Q3 Earnings?
PennantPark Floating Rate Capital Ltd. (PFLT - Free Report) is slated to report third-quarter fiscal 2023 (ended Jun 30) results on Aug 9, after market close. Its quarterly revenues and earnings are projected to have improved year over year.
In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate. Results reflected an increase in total investment income and higher expenses.
The company does not have an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in one and met in two of the trailing four quarters, the average beat being 2.4%.
PennantPark Floating Rate Capital Ltd. Price and EPS Surprise
PennantPark Floating Rate Capital Ltd. price-eps-surprise | PennantPark Floating Rate Capital Ltd. Quote
Moreover, activities of the company in the fiscal third quarter seem inadequate to win analysts’ confidence. The Zacks Consensus Estimate for PFLT’s fiscal third-quarter earnings of 33 cents has been unchanged over the past 30 days. The figure suggests a year-over-year rise of 13.8%.
The Zacks Consensus Estimate for sales of $34.2 million indicates an increase of 33% from the prior-year quarter’s reported number.
Other Key Estimates for Q3
The Zacks Consensus Estimate for interest income (from controlled, affiliated investments) is pegged at $7.64 million, suggesting a year-over-year rise of 80.6%.
The Zacks Consensus Estimate for dividend income (from controlled, affiliated investments) is pinned at $2.98 million, suggesting a decline of 24.4% from the previous-year quarter’s reported figure.
Earnings Whispers
According to our proven model, it cannot be conclusively predicted whether PennantPark will be able to beat the Zacks Consensus Estimate for earnings this time around. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESP and Zacks Rank #3 (Hold) or higher.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for PennantPark is 0.00%.
Zacks Rank: The company currently carries a Zacks Rank #3.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Two Finance Stocks
Ares Capital Corporation’s (ARCC - Free Report) second-quarter 2023 core earnings of 58 cents per share surpassed the Zacks Consensus Estimate by a penny. The bottom line also reflected a rise of 26.1% from the prior-year quarter.
Results were primarily aided by an improvement in total investment income. Also, ARCC’s portfolio activity was robust in the quarter. However, an increase in expenses hurt Ares Capital’s results to some extent.
Capital One’s (COF - Free Report) second-quarter 2023 earnings of $3.52 per share surpassed the Zacks Consensus Estimate of $3.31. However, the bottom line tanked 29% from the year-ago quarter.
COF’s results were aided by increases in net interest income and fee income. However, despite higher rates, the net interest margin declined year over year. Also, higher expenses, along with a significant rise in provisions, were the undermining factors for COF.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.