Analysts Expect Prospect Capital Co. (PSEC) to Announce $0.18 EPS

Wall Street brokerages predict that Prospect Capital Co. (NASDAQ:PSEC) will announce earnings per share (EPS) of $0.18 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Prospect Capital’s earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.17. Prospect Capital reported earnings per share of $0.20 during the same quarter last year, which would suggest a negative year-over-year growth rate of 10%. The firm is expected to report its next quarterly earnings results on Tuesday, May 8th.

According to Zacks, analysts expect that Prospect Capital will report full-year earnings of $0.74 per share for the current year, with EPS estimates ranging from $0.72 to $0.75. For the next year, analysts anticipate that the business will post earnings of $0.73 per share, with EPS estimates ranging from $0.70 to $0.75. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Prospect Capital.

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Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $162.40 million for the quarter, compared to the consensus estimate of $153.94 million. Prospect Capital had a net margin of 31.02% and a return on equity of 8.36%. Prospect Capital’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS.

A number of research firms have recently weighed in on PSEC. BidaskClub downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, January 19th. ValuEngine upgraded shares of Prospect Capital from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. National Securities restated a “sell” rating and issued a $4.00 target price on shares of Prospect Capital in a report on Monday, February 12th. Zacks Investment Research downgraded shares of Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, January 20th. Finally, BMO Capital Markets restated a “hold” rating and issued a $7.00 target price on shares of Prospect Capital in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $6.81.

In other news, insider John F. Barry purchased 4,483 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was purchased at an average cost of $6.50 per share, with a total value of $29,139.50. Following the purchase, the insider now owns 34,413,790 shares in the company, valued at $223,689,635. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Barry purchased 467,178 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $6.73 per share, with a total value of $3,144,107.94. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 954,870 shares of company stock worth $6,357,884. Insiders own 7.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PSEC. Two Sigma Investments LP boosted its stake in shares of Prospect Capital by 3,302.2% during the 4th quarter. Two Sigma Investments LP now owns 1,658,719 shares of the financial services provider’s stock worth $11,180,000 after purchasing an additional 1,609,964 shares during the period. Quinn Opportunity Partners LLC purchased a new position in shares of Prospect Capital during the 4th quarter worth about $4,508,000. Penn Mutual Life Insurance Co purchased a new position in shares of Prospect Capital during the 3rd quarter worth about $3,992,000. Millennium Management LLC purchased a new position in shares of Prospect Capital during the 4th quarter worth about $3,566,000. Finally, Cowen Inc. boosted its stake in shares of Prospect Capital by 200.0% during the 3rd quarter. Cowen Inc. now owns 248,000 shares of the financial services provider’s stock worth $1,667,000 after purchasing an additional 496,000 shares during the period. 14.18% of the stock is owned by hedge funds and other institutional investors.

NASDAQ PSEC remained flat at $$6.66 on Monday. 912,633 shares of the company’s stock were exchanged, compared to its average volume of 1,574,572. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.32 and a current ratio of 4.32. The company has a market cap of $2,407.77, a P/E ratio of 7.84 and a beta of 0.42. Prospect Capital has a one year low of $5.51 and a one year high of $9.45.

The firm also recently announced a monthly dividend, which will be paid on Thursday, April 19th. Stockholders of record on Friday, March 30th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.81%. Prospect Capital’s dividend payout ratio (DPR) is presently 84.71%.

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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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