Prospect Capital Corporation (PSEC) to Issue Monthly Dividend of $0.05 on December 18th

Prospect Capital Corporation (NASDAQ:PSEC) declared a monthly dividend on Thursday, November 6th. Investors of record on Tuesday, November 25th will be given a dividend of 0.045 per share by the financial services provider on Thursday, December 18th. This represents a c) dividend on an annualized basis and a yield of 19.7%. The ex-dividend date of this dividend is Tuesday, November 25th.

Prospect Capital has decreased its dividend payment by an average of 0.0%annually over the last three years. Prospect Capital has a dividend payout ratio of 114.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Prospect Capital Trading Up 7.5%

PSEC opened at $2.74 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.70. Prospect Capital has a twelve month low of $2.52 and a twelve month high of $4.88. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.04 and a beta of 0.86. The company has a 50-day simple moving average of $2.74 and a 200 day simple moving average of $3.09.

Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Thursday, November 6th. The financial services provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.11 by $0.06. The company had revenue of $119.44 million during the quarter, compared to analysts’ expectations of $169.53 million. Prospect Capital had a negative net margin of 69.68% and a positive return on equity of 12.14%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Wells Fargo & Company dropped their price objective on Prospect Capital from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Thursday, August 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Prospect Capital in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell” and a consensus price target of $2.50.

Prospect Capital Company Profile

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.