Palmer Square Capital BDC (PSBD) Expected to Announce Quarterly Earnings on Wednesday

Key Points

• Palmer Square Capital BDC is expected to report quarterly results before the market opens on May 6, with analysts projecting EPS of $0.40 and revenue of $27.29 million (consensus of ~$2 EPS for the fiscal year).
• The company recently paid a quarterly dividend of $0.36 (annualized $1.44) for a 13.2% yield
• Shares trade around $10.90 with a market cap of $340 million; Wall Street has a consensus Hold rating with an average target of $11.75, and institutional ownership is relatively low at about 6.5% despite some recent buying by quant and hedge funds.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) is expected to be announcing its results before the market opens on Wednesday, May 6th. Analysts expect the company to announce earnings of $0.40 per share and revenue of $27.2920 million for the quarter.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of ($0.31) million for the quarter, compared to analyst estimates of $30.11 million. Palmer Square Capital BDC had a positive return on equity of 10.82% and a negative net margin of 2.55%. On average, analysts expect Palmer Square Capital BDC to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Palmer Square Capital BDC Stock Up 1.2%

NYSE:PSBD opened at $10.90 on Wednesday. The firm has a market capitalization of $340.11 million, a price-to-earnings ratio of -99.10 and a beta of 0.70. Palmer Square Capital BDC has a twelve month low of $9.34 and a twelve month high of $14.98. The stock's 50 day moving average price is $10.58 and its two-hundred day moving average price is $11.54.

Palmer Square Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Friday, March 27th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.2%. Palmer Square Capital BDC's payout ratio is presently -1,309.09%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC acquired a new position in Palmer Square Capital BDC in the 3rd quarter valued at $230,000. XTX Topco Ltd acquired a new position in Palmer Square Capital BDC in the 4th quarter valued at $351,000. Jane Street Group LLC acquired a new position in Palmer Square Capital BDC in the 1st quarter valued at $360,000. Trexquant Investment LP grew its holdings in Palmer Square Capital BDC by 17.6% in the 4th quarter. Trexquant Investment LP now owns 50,118 shares of the company's stock valued at $611,000 after buying an additional 7,496 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in Palmer Square Capital BDC by 142.9% in the 3rd quarter. Two Sigma Investments LP now owns 131,545 shares of the company's stock valued at $1,614,000 after buying an additional 77,393 shares in the last quarter. 6.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. UBS Group decreased their target price on Palmer Square Capital BDC from $11.50 to $11.00 and set a "neutral" rating on the stock in a report on Monday, April 20th. Royal Bank Of Canada decreased their target price on Palmer Square Capital BDC from $13.00 to $12.00 and set a "sector perform" rating on the stock in a report on Thursday, March 5th. Finally, JPMorgan Chase & Co. decreased their target price on Palmer Square Capital BDC from $11.50 to $10.00 and set a "neutral" rating on the stock in a report on Friday, March 13th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $11.75.

Palmer Square Capital BDC Company Profile

Palmer Square Capital BDC Inc NYSE: PSBD is a closed-end, externally managed business development company that provides customized financing solutions to middle-market companies in the United States. The firm offers a broad range of debt and equity products—including first-lien and second-lien senior secured loans, unitranche financings, mezzanine debt and equity co-investments—to support corporate acquisitions, refinancings, growth initiatives and balance sheet restructurings.

PSBD primarily targets established privately owned and sponsored businesses across diverse industries such as healthcare, business services, industrials and consumer products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.