Wall Street analysts expect Prospect Capital Corporation (NASDAQ:PSEC) to report $154.76 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Prospect Capital Corporation’s earnings, with the lowest sales estimate coming in at $151.94 million and the highest estimate coming in at $157.57 million. Prospect Capital Corporation posted sales of $183.48 million in the same quarter last year, which would indicate a negative year over year growth rate of 15.7%. The business is scheduled to report its next quarterly earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Prospect Capital Corporation will report full year sales of $154.76 million for the current fiscal year, with estimates ranging from $623.00 million to $635.44 million. For the next financial year, analysts anticipate that the business will report sales of $631.75 million per share, with estimates ranging from $624.00 million to $639.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Prospect Capital Corporation.
Prospect Capital Corporation (NASDAQ:PSEC) last posted its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). Prospect Capital Corporation had a net margin of 27.00% and a return on equity of 8.63%. The business had revenue of $158.58 million for the quarter, compared to analysts’ expectations of $161.00 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The business’s quarterly revenue was down 11.8% on a year-over-year basis.
PSEC has been the subject of several recent analyst reports. National Securities lowered their price objective on shares of Prospect Capital Corporation from $6.00 to $5.00 and set a “sell” rating for the company in a research note on Thursday, October 12th. Raymond James Financial, Inc. raised shares of Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. UBS AG raised shares of Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Zacks Investment Research raised shares of Prospect Capital Corporation from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, BidaskClub downgraded shares of Prospect Capital Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $6.17.
Shares of Prospect Capital Corporation (NASDAQ:PSEC) traded up $0.07 during trading hours on Friday, hitting $6.96. 4,491,048 shares of the stock traded hands, compared to its average volume of 2,838,971. The company has a market capitalization of $2,510.00, a P/E ratio of 8.51 and a beta of 0.51. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.78. Prospect Capital Corporation has a 52-week low of $5.51 and a 52-week high of $9.58.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 10.34%. The ex-dividend date is Tuesday, January 30th. Prospect Capital Corporation’s dividend payout ratio (DPR) is 141.18%.
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In related news, insider M Grier Eliasek purchased 65,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average cost of $5.96 per share, with a total value of $387,400.00. Following the completion of the purchase, the insider now directly owns 1,002,196 shares in the company, valued at $5,973,088.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian H. Oswald purchased 35,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average cost of $5.75 per share, with a total value of $201,250.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 216,000 shares of company stock valued at $1,299,150. 7.10% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in PSEC. Atria Investments LLC bought a new position in Prospect Capital Corporation in the second quarter worth about $104,000. Trexquant Investment LP bought a new position in Prospect Capital Corporation in the third quarter worth about $108,000. Jane Street Group LLC bought a new position in Prospect Capital Corporation in the third quarter worth about $127,000. Nwam LLC raised its stake in Prospect Capital Corporation by 19.1% in the second quarter. Nwam LLC now owns 16,825 shares of the financial services provider’s stock worth $137,000 after buying an additional 2,700 shares in the last quarter. Finally, Regal Investment Advisors LLC raised its stake in Prospect Capital Corporation by 19.3% in the second quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock worth $137,000 after buying an additional 2,720 shares in the last quarter. 15.18% of the stock is owned by institutional investors.
About Prospect Capital Corporation
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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