Equities analysts predict that Prospect Capital Co. (NASDAQ:PSEC) will post earnings of $0.18 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Prospect Capital’s earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.18. Prospect Capital reported earnings of $0.20 per share during the same quarter last year, which indicates a negative year over year growth rate of 10%. The firm is scheduled to issue its next earnings report 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 company will post earnings of $0.73 per share, with EPS estimates ranging from $0.70 to $0.75. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Prospect Capital.
Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data 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. Prospect Capital had a net margin of 31.02% and a return on equity of 8.36%. The firm had revenue of $162.40 million during the quarter, compared to the consensus estimate of $153.94 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year.
A number of research firms recently weighed in on PSEC. BidaskClub cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine cut shares of Prospect Capital from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 2nd. National Securities restated a “sell” rating and set a $4.00 target price on shares of Prospect Capital in a research note on Monday, February 12th. Finally, Zacks Investment Research cut shares of Prospect Capital from a “buy” rating to a “hold” rating in a research note on Saturday, January 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $6.81.
Shares of PSEC stock opened at $6.49 on Thursday. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 0.73. Prospect Capital has a 1 year low of $5.51 and a 1 year high of $9.45. The firm has a market cap of $2,310.16, a PE ratio of 7.64 and a beta of 0.42.
The company also recently announced a monthly dividend, which will be paid on Thursday, April 19th. Investors of record on Friday, March 30th will be paid a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.09%. The ex-dividend date of this dividend is Wednesday, March 28th. Prospect Capital’s dividend payout ratio (DPR) is 84.71%.
In related news, insider John F. Barry purchased 269,197 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were acquired at an average price of $6.63 per share, for a total transaction of $1,784,776.11. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John F. Barry purchased 467,178 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was bought at an average price of $6.73 per share, for a total transaction of $3,144,107.94. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 954,870 shares of company stock worth $6,357,884. 7.10% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Prospect Capital in the 4th quarter worth $2,544,000. Virtu Financial LLC lifted its stake in Prospect Capital by 302.9% in the 4th quarter. Virtu Financial LLC now owns 294,330 shares of the financial services provider’s stock worth $1,984,000 after purchasing an additional 221,274 shares in the last quarter. Eqis Capital Management Inc. lifted its stake in Prospect Capital by 266.2% in the 4th quarter. Eqis Capital Management Inc. now owns 438,826 shares of the financial services provider’s stock worth $2,958,000 after purchasing an additional 319,001 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in Prospect Capital in the 4th quarter worth $130,000. Finally, Aperio Group LLC lifted its stake in Prospect Capital by 51.6% in the 4th quarter. Aperio Group LLC now owns 62,741 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 21,357 shares in the last quarter. Institutional investors and hedge funds own 14.08% of the company’s stock.
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Prospect Capital Company Profile
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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