Equities analysts expect that Prospect Capital Corporation (NASDAQ:PSEC) will announce earnings of $0.18 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Prospect Capital’s earnings. The lowest EPS estimate is $0.17 and the highest is $0.18. Prospect Capital posted earnings of $0.24 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 25%. The firm is scheduled to announce its next earnings results on Wednesday, February 14th.
On average, analysts expect that Prospect Capital will report full-year earnings of $0.72 per share for the current financial year, with EPS estimates ranging from $0.71 to $0.72. For the next fiscal year, analysts forecast that the business will report earnings of $0.73 per share, with EPS estimates ranging from $0.72 to $0.73. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Prospect Capital.
Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Prospect Capital had a return on equity of 8.63% and a net margin of 27.00%. The firm had revenue of $158.58 million during the quarter, compared to the consensus estimate of $161.00 million. During the same quarter last year, the company posted $0.22 EPS. Prospect Capital’s revenue for the quarter was down 11.8% compared to the same quarter last year.
A number of research firms have recently commented on PSEC. Raymond James Financial raised Prospect Capital from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. National Securities cut their target price on Prospect Capital from $7.00 to $6.00 and set a “sell” rating on the stock in a research note on Wednesday, August 30th. UBS raised Prospect Capital from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. ValuEngine raised Prospect Capital from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, TheStreet cut Prospect Capital from a “b-” rating to a “c+” rating in a research note on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $6.17.
Prospect Capital (NASDAQ PSEC) traded up $0.14 during midday trading on Thursday, hitting $7.10. The stock had a trading volume of 4,263,057 shares, compared to its average volume of 2,847,344. Prospect Capital has a 52-week low of $5.51 and a 52-week high of $9.58. The stock has a market capitalization of $2,560.00, a PE ratio of 8.53 and a beta of 0.55. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.63 and a current ratio of 2.63.
The company also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be given a $0.06 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $0.72 annualized dividend and a yield of 10.14%. Prospect Capital’s payout ratio is 141.18%.
In related news, CFO Brian H. Oswald acquired 35,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were purchased at an average price of $5.75 per share, with a total value of $201,250.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider M Grier Eliasek acquired 65,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was bought at an average cost of $5.65 per share, for a total transaction of $367,250.00. The disclosure for this purchase can be found here. Insiders acquired 3,410,559 shares of company stock worth $23,223,501 over the last three months. Insiders own 7.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC grew its holdings in Prospect Capital by 2.3% during the 2nd quarter. Aperio Group LLC now owns 57,248 shares of the financial services provider’s stock valued at $465,000 after buying an additional 1,285 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Prospect Capital by 65.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 46,924 shares of the financial services provider’s stock valued at $381,000 after buying an additional 18,567 shares in the last quarter. Rhumbline Advisers grew its holdings in Prospect Capital by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 26,791 shares of the financial services provider’s stock valued at $218,000 after buying an additional 70 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Prospect Capital by 13.2% in the 2nd quarter. Legal & General Group Plc now owns 963,173 shares of the financial services provider’s stock worth $7,816,000 after purchasing an additional 112,354 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Prospect Capital by 8.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,659 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 1,507 shares during the period. 15.60% of the stock is currently owned by hedge funds and other institutional investors.
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About Prospect Capital
Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
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