Prospect Capital Co. Declares Monthly Dividend of $0.06 (PSEC)

Prospect Capital Co. (NASDAQ:PSEC) announced a monthly dividend on Friday, February 9th, Wall Street Journal reports. Stockholders of record on Wednesday, February 28th will be given a dividend of 0.06 per share by the financial services provider on Thursday, March 22nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.64%. The ex-dividend date of this dividend is Tuesday, February 27th.

Shares of Prospect Capital (PSEC) opened at $6.77 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.32 and a quick ratio of 2.63. Prospect Capital has a 12 month low of $5.51 and a 12 month high of $9.58. The company has a market cap of $2,540.00, a price-to-earnings ratio of 11.88 and a beta of 0.48.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Wednesday, February 7th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. Prospect Capital had a net margin of 31.02% and a return on equity of 8.36%. The company had revenue of $162.40 million for the quarter, compared to the consensus estimate of $153.94 million. During the same quarter in the previous year, the company earned $0.28 EPS. Prospect Capital’s quarterly revenue was down 11.5% compared to the same quarter last year. sell-side analysts anticipate that Prospect Capital will post 0.72 earnings per share for the current year.

In other Prospect Capital news, insider John F. Barry acquired 993,900 shares of the stock in a transaction on Friday, December 22nd. The shares were purchased at an average price of $7.21 per share, for a total transaction of $7,166,019.00. Following the completion of the acquisition, the insider now owns 32,187,564 shares in the company, valued at approximately $232,072,336.44. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider M Grier Eliasek acquired 65,000 shares of the stock in a transaction on Monday, November 13th. The shares were acquired at an average price of $5.96 per share, for a total transaction of $387,400.00. Following the acquisition, the insider now owns 1,002,196 shares of the company’s stock, valued at approximately $5,973,088.16. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,504,521 shares of company stock worth $31,215,551 in the last quarter. 7.10% of the stock is owned by corporate insiders.

A number of research firms recently issued reports on PSEC. BidaskClub upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. ValuEngine upgraded shares of Prospect Capital from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. BMO Capital Markets reiterated a “hold” rating and set a $7.00 target price on shares of Prospect Capital in a research report on Monday, January 8th. Zacks Investment Research downgraded shares of Prospect Capital from a “buy” rating to a “hold” rating in a research report on Saturday, January 20th. Finally, National Securities dropped their target price on shares of Prospect Capital from $5.00 to $4.00 and set a “sell” rating on the stock in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $6.81.

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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.

Dividend History for Prospect Capital (NASDAQ:PSEC)

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