Equities analysts forecast that Prospect Capital Co. (NASDAQ:PSEC) will report sales of $174.28 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Prospect Capital’s earnings, with the lowest sales estimate coming in at $166.45 million and the highest estimate coming in at $180.90 million. Prospect Capital posted sales of $193.04 million in the same quarter last year, which suggests a negative year-over-year growth rate of 9.7%. The firm is scheduled to issue its next earnings results on Monday, September 4th.
According to Zacks, analysts expect that Prospect Capital will report full-year sales of $174.28 million for the current fiscal year, with estimates ranging from $701.00 million to $715.20 million. For the next financial year, analysts forecast that the company will post sales of $708.83 million per share, with estimates ranging from $674.00 million to $731.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover Prospect Capital.
Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The firm had revenue of $171 million during the quarter, compared to the consensus estimate of $185.36 million. Prospect Capital had a net margin of 47.32% and a return on equity of 9.96%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 earnings per share.
A number of research firms have issued reports on PSEC. Zacks Investment Research downgraded Prospect Capital from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 13th. National Securities reissued a “sell” rating and issued a $7.00 target price on shares of Prospect Capital in a research report on Monday, February 13th. FBR & Co downgraded Prospect Capital from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $9.50 to $8.50 in a research report on Thursday, May 11th. TheStreet raised Prospect Capital from a “c+” rating to a “b” rating in a research report on Monday, February 13th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $7.00 target price on shares of Prospect Capital in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $8.04.
Shares of Prospect Capital (NASDAQ PSEC) opened at 8.04 on Friday. The company has a market capitalization of $2.89 billion, a P/E ratio of 9.70 and a beta of 0.43. The company has a 50-day moving average price of $8.74 and a 200 day moving average price of $8.73. Prospect Capital has a 1-year low of $7.07 and a 1-year high of $9.58.
The business also recently declared a monthly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Friday, June 30th will be given a $0.0833 dividend. This represents a $1.00 annualized dividend and a dividend yield of 12.44%. The ex-dividend date is Wednesday, June 28th. Prospect Capital’s dividend payout ratio (DPR) is presently 101.01%.
In related news, CFO Brian H. Oswald purchased 25,000 shares of Prospect Capital stock in a transaction dated Monday, March 20th. The stock was bought at an average cost of $9.31 per share, for a total transaction of $232,750.00. Following the completion of the transaction, the chief financial officer now owns 475,000 shares in the company, valued at $4,422,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian H. Oswald purchased 4,453 shares of Prospect Capital stock in a transaction dated Friday, May 12th. The stock was bought at an average price of $8.05 per share, with a total value of $35,846.65. Following the completion of the transaction, the chief financial officer now owns 490,000 shares of the company’s stock, valued at approximately $3,944,500. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 46,000 shares of company stock valued at $404,061. 6.60% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Arete Wealth Advisors LLC boosted its position in shares of Prospect Capital by 1.2% in the third quarter. Arete Wealth Advisors LLC now owns 20,850 shares of the financial services provider’s stock valued at $169,000 after buying an additional 250 shares during the period. Jane Street Group LLC bought a new position in shares of Prospect Capital during the third quarter valued at $1,063,000. Boston Private Wealth LLC boosted its position in shares of Prospect Capital by 3.9% in the third quarter. Boston Private Wealth LLC now owns 107,200 shares of the financial services provider’s stock valued at $868,000 after buying an additional 4,000 shares during the period. PVG Asset Management Corp bought a new position in shares of Prospect Capital during the third quarter valued at $2,788,000. Finally, Cetera Advisor Networks LLC boosted its position in shares of Prospect Capital by 69.1% in the third quarter. Cetera Advisor Networks LLC now owns 86,674 shares of the financial services provider’s stock valued at $702,000 after buying an additional 35,428 shares during the period. Institutional investors own 13.23% of the company’s stock.
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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