Zacks: Analysts Expect Prospect Capital Co. (PSEC) Will Post Earnings of $0.18 Per Share

Analysts expect that Prospect Capital Co. (NASDAQ:PSEC) will post earnings per share of $0.18 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Prospect Capital’s earnings, with estimates ranging from $0.17 to $0.18. Prospect Capital posted earnings of $0.20 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 10%. The company is expected to announce its next earnings report on Tuesday, May 8th.

According to Zacks, analysts expect that Prospect Capital will report full year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.72 to $0.75. For the next fiscal year, analysts anticipate that the company will post earnings of $0.73 per share, with EPS estimates ranging from $0.70 to $0.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Prospect Capital.

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Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Prospect Capital had a return on equity of 8.36% and a net margin of 31.02%. The firm had revenue of $162.40 million for the quarter, compared to analysts’ expectations of $153.94 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year.

A number of brokerages have recently commented on PSEC. BidaskClub raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. Zacks Investment Research raised Prospect Capital from a “sell” rating to a “hold” rating and set a $7.75 price target on the stock in a research report on Thursday, January 11th. ValuEngine cut Prospect Capital from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. BMO Capital Markets reaffirmed a “hold” rating and set a $7.00 price target on shares of Prospect Capital in a research report on Monday, January 8th. Finally, National Securities reaffirmed a “sell” rating and set a $4.00 price target on shares of Prospect Capital in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.81.

Shares of NASDAQ PSEC opened at $6.55 on Monday. Prospect Capital has a one year low of $5.51 and a one year high of $9.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.32 and a current ratio of 4.32. The firm has a market cap of $2,368.00, a PE ratio of 7.71 and a beta of 0.42.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 19th. Investors of record on Friday, March 30th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.99%. Prospect Capital’s payout ratio is 84.71%.

In related news, insider John F. Barry acquired 269,197 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average cost of $6.63 per share, for a total transaction of $1,784,776.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John F. Barry acquired 467,178 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $6.73 per share, for a total transaction of $3,144,107.94. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 954,870 shares of company stock worth $6,357,884. 7.10% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the stock. PVG Asset Management Corp raised its stake in shares of Prospect Capital by 99.1% during the 4th quarter. PVG Asset Management Corp now owns 213,308 shares of the financial services provider’s stock valued at $1,438,000 after purchasing an additional 106,180 shares during the period. Vanguard Capital Wealth Advisors bought a new stake in shares of Prospect Capital during the 4th quarter valued at $796,000. Jane Street Group LLC increased its stake in Prospect Capital by 984.1% in the 4th quarter. Jane Street Group LLC now owns 204,643 shares of the financial services provider’s stock worth $1,379,000 after acquiring an additional 185,766 shares during the last quarter. Millennium Management LLC bought a new position in Prospect Capital in the 4th quarter worth about $3,566,000. Finally, Two Sigma Securities LLC increased its stake in Prospect Capital by 151.4% in the 4th quarter. Two Sigma Securities LLC now owns 64,517 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 38,855 shares during the last quarter. Institutional investors own 14.18% of the company’s stock.

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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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