Prospect Capital Corporation (PSEC) to Issue Dividend of $0.05 on July 22nd

Prospect Capital Corporation (NASDAQ:PSEC) declared a dividend on Tuesday, May 6th, investing.com reports. Stockholders of record on Thursday, June 26th will be given a dividend of 0.045 per share by the financial services provider on Tuesday, July 22nd. This represents a dividend yield of 15.88%. The ex-dividend date is Thursday, June 26th.

Prospect Capital has a dividend payout ratio of 114.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Prospect Capital Stock Down 0.9%

Shares of NASDAQ PSEC opened at $3.16 on Tuesday. The stock has a market cap of $1.41 billion, a PE ratio of -3.67 and a beta of 0.85. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. Prospect Capital has a 52-week low of $3.10 and a 52-week high of $5.65. The business has a 50-day moving average price of $3.45 and a 200 day moving average price of $3.96.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Thursday, May 8th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. The firm had revenue of $170.72 million during the quarter, compared to analysts’ expectations of $174.29 million. Prospect Capital had a positive return on equity of 12.43% and a negative net margin of 36.07%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PSEC shares. Wall Street Zen raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Saturday, April 12th. Wells Fargo & Company reduced their price objective on Prospect Capital from $3.50 to $3.00 and set an “underweight” rating for the company in a research note on Monday, May 12th.

Hedge Funds Weigh In On Prospect Capital

A hedge fund recently raised its stake in Prospect Capital stock. Goldman Sachs Group Inc. lifted its holdings in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 29.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 393,034 shares of the financial services provider’s stock after buying an additional 89,139 shares during the period. Goldman Sachs Group Inc. owned about 0.09% of Prospect Capital worth $1,611,000 at the end of the most recent reporting period. 9.06% of the stock is currently owned by institutional investors.

About Prospect Capital

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.