Prospect Capital (PSEC) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Prospect Capital (NASDAQ:PSEC) announced its earnings results on Tuesday. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02, reports. Prospect Capital had a return on equity of 8.57% and a net margin of 45.58%. The firm had revenue of $159.40 million during the quarter, compared to analyst estimates of $166.71 million. During the same period last year, the firm posted $0.18 EPS. The business’s revenue was up 7.6% compared to the same quarter last year.

Shares of PSEC stock traded up $0.13 on Wednesday, hitting $6.95. 4,075,938 shares of the stock were exchanged, compared to its average volume of 1,702,435. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 8.80 and a beta of 0.61. Prospect Capital has a one year low of $5.61 and a one year high of $7.60.

The company also recently declared a nov 19 dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.06 per share. Prospect Capital’s payout ratio is 91.14%.

Several brokerages have recently issued reports on PSEC. ValuEngine raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. BidaskClub upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. National Securities reiterated a “sell” rating and set a $4.00 price target on shares of Prospect Capital in a research note on Friday, August 31st. Zacks Investment Research downgraded Prospect Capital from a “buy” rating to a “hold” rating in a research note on Friday, July 20th. Finally, TheStreet upgraded Prospect Capital from a “c+” rating to a “b” rating in a research note on Tuesday, September 11th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.50.

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About Prospect Capital

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

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Earnings History for Prospect Capital (NASDAQ:PSEC)

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