Wall Street brokerages predict that Prospect Capital Co. (NASDAQ:PSEC) will post earnings per share (EPS) of $0.24 for the current quarter, according to Zacks. Three analysts have provided estimates for Prospect Capital’s earnings. The lowest EPS estimate is $0.23 and the highest is $0.24. Prospect Capital also reported earnings of $0.24 per share in the same quarter last year. The company is scheduled to announce its next quarterly earnings results on Tuesday, May 9th.
On average, analysts expect that Prospect Capital will report full-year earnings of $0.94 per share for the current financial year, with EPS estimates ranging from $0.92 to $0.95. For the next year, analysts expect that the business will post earnings of $0.96 per share, with EPS estimates ranging from $0.92 to $1.00. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Prospect Capital.
Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Wednesday, February 8th. The financial services provider reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The business earned $183.48 million during the quarter, compared to the consensus estimate of $184.83 million. Prospect Capital had a return on equity of 9.96% and a net margin of 47.32%. During the same quarter last year, the company earned $0.28 EPS.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Thursday, February 23rd. National Securities reiterated a “sell” rating and set a $7.00 price target on shares of Prospect Capital in a report on Monday, February 13th. Finally, TheStreet upgraded shares of Prospect Capital from a “c+” rating to a “b” rating in a report on Monday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $7.96.
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Prospect Capital (NASDAQ:PSEC) traded up 0.32% during trading on Tuesday, hitting $9.37. The company had a trading volume of 2,283,714 shares. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 9.48 and a beta of 0.43. The stock has a 50-day moving average of $9.15 and a 200 day moving average of $8.56. Prospect Capital has a one year low of $7.07 and a one year high of $9.58.
The business also recently disclosed a monthly dividend, which was paid on Thursday, April 20th. Investors of record on Friday, March 31st were issued a $0.0833 dividend. The ex-dividend date of this dividend was Wednesday, March 29th. This represents a $1.00 dividend on an annualized basis and a yield of 10.67%. Prospect Capital’s payout ratio is 101.01%.
In related news, CFO Brian H. Oswald acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was acquired at an average cost of $9.31 per share, for a total transaction of $232,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 475,000 shares of the company’s stock, valued at approximately $4,422,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PSEC. DnB Asset Management AS increased its stake in Prospect Capital by 38.9% in the first quarter. DnB Asset Management AS now owns 186,100 shares of the financial services provider’s stock worth $1,682,000 after buying an additional 52,100 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Prospect Capital during the first quarter worth $361,000. Bank of Montreal Can increased its stake in Prospect Capital by 6.0% in the first quarter. Bank of Montreal Can now owns 5,635,500 shares of the financial services provider’s stock worth $50,946,000 after buying an additional 319,500 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Prospect Capital during the fourth quarter worth $188,000. Finally, Independent Advisor Alliance bought a new stake in Prospect Capital during the fourth quarter worth $178,000. Institutional investors and hedge funds own 13.23% of the company’s stock.
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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