Prospect Capital (NASDAQ:PSEC) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Prospect Capital (NASDAQ:PSEC) announced its earnings results on Tuesday. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01), Briefing.com reports. Prospect Capital had a return on equity of 9.58% and a net margin of 30.82%. The firm had revenue of $164.40 million during the quarter, compared to the consensus estimate of $166.69 million. During the same period in the prior year, the company posted $0.22 EPS. The firm’s revenue was down 5.5% on a year-over-year basis.

Prospect Capital stock opened at $6.30 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $2.44 billion, a P/E ratio of 7.41 and a beta of 0.73. The stock’s 50 day moving average is $6.60 and its 200 day moving average is $6.61. Prospect Capital has a twelve month low of $5.70 and a twelve month high of $7.60.

Several brokerages have recently issued reports on PSEC. ValuEngine lowered Prospect Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. TheStreet upgraded Prospect Capital from a “f” rating to a “b-” rating in a research note on Friday, July 26th. National Securities restated a “sell” rating and issued a $4.00 price target on shares of Prospect Capital in a research note on Monday, May 13th. BidaskClub upgraded Prospect Capital from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Zacks Investment Research upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $6.00.

In related news, CEO John F. Barry purchased 63,496 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were bought at an average price of $6.29 per share, for a total transaction of $399,389.84. Following the purchase, the chief executive officer now directly owns 38,364,480 shares of the company’s stock, valued at approximately $241,312,579.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John F. Barry purchased 408,911 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average price of $6.38 per share, for a total transaction of $2,608,852.18. Following the purchase, the chief executive officer now directly owns 38,938,445 shares in the company, valued at $248,427,279.10. The disclosure for this purchase can be found here. Insiders purchased a total of 610,246 shares of company stock worth $3,882,141 in the last 90 days. 10.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of PSEC. Phocas Financial Corp. bought a new stake in shares of Prospect Capital in the second quarter worth about $2,055,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Prospect Capital in the second quarter worth about $145,000. Green Square Asset Management LLC bought a new stake in shares of Prospect Capital in the second quarter worth about $354,000. OneAscent Financial Services LLC bought a new stake in shares of Prospect Capital in the second quarter worth about $204,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Prospect Capital in the second quarter worth about $1,035,000. Institutional investors and hedge funds own 12.46% of the company’s stock.

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.

Further Reading: Understanding the different types of bonds

Earnings History for Prospect Capital (NASDAQ:PSEC)

Receive News & Ratings for Prospect Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prospect Capital and related companies with MarketBeat.com's FREE daily email newsletter.