Prospect Capital (NASDAQ:PSEC) Releases Earnings Results, Misses Estimates By $0.14 EPS

Prospect Capital (NASDAQ:PSEC) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.14), RTT News reports. Prospect Capital had a return on equity of 9.36% and a net margin of 20.53%. The business had revenue of $161.88 million for the quarter, compared to analyst estimates of $162.98 million. During the same quarter last year, the firm earned $0.23 earnings per share.

Shares of NASDAQ PSEC opened at $6.49 on Friday. The business has a fifty day simple moving average of $6.52 and a 200 day simple moving average of $6.58. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 7.64 and a beta of 0.76. Prospect Capital has a one year low of $5.70 and a one year high of $7.06. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.72.

The company also recently announced a monthly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 29th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.09%. Prospect Capital’s payout ratio is 84.71%.

A number of brokerages have recently commented on PSEC. Zacks Investment Research upgraded Prospect Capital from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. ValuEngine lowered Prospect Capital from a “hold” rating to a “sell” rating in a research note on Tuesday. TheStreet lowered Prospect Capital from a “b-” rating to a “c” rating in a research note on Friday, September 13th. Finally, BidaskClub lowered Prospect Capital from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. The stock has an average rating of “Sell” and an average price target of $6.00.

In other news, CEO John F. Barry purchased 139,761 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $6.40 per share, for a total transaction of $894,470.40. Following the completion of the acquisition, the chief executive officer now directly owns 39,460,914 shares in the company, valued at $252,549,849.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John F. Barry purchased 237,857 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $6.34 per share, for a total transaction of $1,508,013.38. Following the acquisition, the chief executive officer now owns 39,906,051 shares of the company’s stock, valued at $253,004,363.34. The disclosure for this purchase can be found here. 11.30% of the stock is owned by company insiders.

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.

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Earnings History for Prospect Capital (NASDAQ:PSEC)

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