Prospect Capital (NASDAQ:PSEC) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Prospect Capital (NASDAQ:PSEC) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Prospect Capital from a hold rating to a sell rating in a research report on Wednesday, November 27th. ValuEngine upgraded shares of Prospect Capital from a sell rating to a hold rating in a research report on Tuesday, December 3rd. Finally, TheStreet lowered shares of Prospect Capital from a b- rating to a c rating in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $5.00.

Shares of NASDAQ:PSEC opened at $6.52 on Wednesday. Prospect Capital has a 1 year low of $5.70 and a 1 year high of $6.97. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 7.67 and a beta of 0.76. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.29 and a quick ratio of 1.29. The business’s 50 day moving average price is $6.50 and its 200-day moving average price is $6.55.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.14). The company had revenue of $161.88 million during the quarter, compared to analysts’ expectations of $162.98 million. Prospect Capital had a return on equity of 9.05% and a net margin of 11.49%. During the same period in the previous year, the firm posted $0.23 EPS. On average, sell-side analysts expect that Prospect Capital will post 0.72 earnings per share for the current year.

The company also recently declared a monthly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.04%. The ex-dividend date is Wednesday, November 27th. Prospect Capital’s dividend payout ratio is presently 84.71%.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new position in Prospect Capital in the 2nd quarter valued at $36,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Prospect Capital in the second quarter valued at about $63,000. First National Bank of Omaha purchased a new position in shares of Prospect Capital in the third quarter worth about $66,000. Mycio Wealth Partners LLC purchased a new position in shares of Prospect Capital in the second quarter worth about $67,000. Finally, Usca Ria LLC acquired a new position in Prospect Capital during the third quarter worth about $68,000. Hedge funds and other institutional investors own 12.67% of the company’s stock.

About Prospect Capital

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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