Recap: PennantPark Floating Rate Q4 Earnings
Portfolio Pulse from Benzinga Insights
PennantPark Floating Rate (NYSE:PFLT) reported Q4 earnings with an EPS of $0.32, beating estimates by 3.23% against the expected $0.31. Revenue increased by $6.95 million compared to the same period last year. However, in the previous quarter, PFLT missed EPS estimates which resulted in a 3.99% share price drop the following day.
November 15, 2023 | 9:20 pm
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PennantPark Floating Rate reported a positive earnings surprise with a 3.23% beat on EPS estimates and an increase in year-over-year revenue.
Beating earnings estimates typically has a positive effect on stock prices in the short term. Given PFLT's positive earnings surprise and revenue growth, it is likely to have a favorable impact on the stock price, especially considering the negative reaction to the previous quarter's earnings miss.
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IMPORTANCE 80
RELEVANCE 100