Prospect Capital Co. (NASDAQ:PSEC) has received a consensus rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $5.50.
PSEC has been the topic of a number of research analyst reports. BidaskClub raised Prospect Capital from a “hold” rating to a “buy” rating in a research note on Saturday, August 25th. ValuEngine raised Prospect Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. TheStreet upgraded Prospect Capital from a “c+” rating to a “b” rating in a research report on Tuesday, September 11th. National Securities reiterated a “sell” rating and set a $4.00 price objective on shares of Prospect Capital in a research report on Friday, August 31st. Finally, Zacks Investment Research downgraded Prospect Capital from a “buy” rating to a “hold” rating in a research report on Friday, July 20th.
A number of institutional investors have recently made changes to their positions in the stock. Atria Investments LLC lifted its position in Prospect Capital by 19.1% during the second quarter. Atria Investments LLC now owns 54,727 shares of the financial services provider’s stock worth $367,000 after buying an additional 8,758 shares in the last quarter. Vanguard Capital Wealth Advisors lifted its position in Prospect Capital by 8.7% during the second quarter. Vanguard Capital Wealth Advisors now owns 130,890 shares of the financial services provider’s stock worth $878,000 after buying an additional 10,490 shares in the last quarter. Raymond James & Associates lifted its position in Prospect Capital by 13.2% during the second quarter. Raymond James & Associates now owns 107,435 shares of the financial services provider’s stock worth $721,000 after buying an additional 12,542 shares in the last quarter. Aperio Group LLC lifted its position in Prospect Capital by 26.7% during the second quarter. Aperio Group LLC now owns 61,707 shares of the financial services provider’s stock worth $414,000 after buying an additional 13,011 shares in the last quarter. Finally, American Financial Network Advisory Services LLC purchased a new position in Prospect Capital during the third quarter worth approximately $101,000. Hedge funds and other institutional investors own 12.12% of the company’s stock.
Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Tuesday, August 28th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. The firm had revenue of $174.03 million for the quarter, compared to analyst estimates of $161.76 million. Prospect Capital had a return on equity of 8.57% and a net margin of 45.58%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. Research analysts anticipate that Prospect Capital will post 0.85 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, October 31st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.72 dividend on an annualized basis and a yield of 10.60%. Prospect Capital’s payout ratio is 91.14%.
Prospect Capital Company Profile
Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, buyouts, recapitalizations, turnaround, growth capital, development, subordinated debt tranches of collateralized loan obligations, cash flow term loans, and bridge transactions.
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