Zacks: Analysts Expect Prospect Capital Corporation (PSEC) to Announce $0.18 EPS
Equities research analysts expect that Prospect Capital Corporation (NASDAQ:PSEC) will report earnings per share of $0.18 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Prospect Capital’s earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.18. Prospect Capital reported earnings of $0.24 per share in the same quarter last year, which suggests a negative year over year growth rate of 25%. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Prospect Capital will report full year earnings of $0.72 per share for the current financial year, with EPS estimates ranging from $0.71 to $0.72. For the next financial year, analysts expect that the company will post earnings of $0.73 per share, with EPS estimates ranging from $0.72 to $0.73. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Prospect Capital.
Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Prospect Capital had a net margin of 27.00% and a return on equity of 8.63%. The firm had revenue of $158.58 million during the quarter, compared to analysts’ expectations of $161.00 million. During the same quarter last year, the firm earned $0.22 EPS. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year.
Several analysts have recently issued reports on PSEC shares. ValuEngine upgraded Prospect Capital from a “buy” rating to a “strong-buy” rating in a research note on Friday. BidaskClub upgraded Prospect Capital from a “hold” rating to a “buy” rating in a research note on Friday. UBS Group upgraded Prospect Capital from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. TheStreet downgraded Prospect Capital from a “b-” rating to a “c+” rating in a research note on Wednesday, September 27th. Finally, Zacks Investment Research downgraded Prospect Capital from a “hold” rating to a “sell” rating in a research note on Saturday, November 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $6.17.
In related news, CFO Brian H. Oswald bought 35,000 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was acquired at an average cost of $5.75 per share, with a total value of $201,250.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider M Grier Eliasek bought 10,000 shares of the company’s stock in a transaction dated Wednesday, December 20th. The stock was bought at an average cost of $6.94 per share, with a total value of $69,400.00. Following the completion of the acquisition, the insider now owns 1,182,196 shares in the company, valued at approximately $8,204,440.24. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 3,600,621 shares of company stock valued at $24,546,132. Insiders own 7.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of PSEC. Aperio Group LLC raised its holdings in shares of Prospect Capital by 2.3% in the 2nd quarter. Aperio Group LLC now owns 57,248 shares of the financial services provider’s stock worth $465,000 after buying an additional 1,285 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Prospect Capital by 65.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 46,924 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 18,567 shares in the last quarter. Rhumbline Advisers increased its holdings in Prospect Capital by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 26,791 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 70 shares in the last quarter. Legal & General Group Plc increased its holdings in Prospect Capital by 13.2% during the 2nd quarter. Legal & General Group Plc now owns 963,173 shares of the financial services provider’s stock valued at $7,816,000 after purchasing an additional 112,354 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Prospect Capital by 8.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,659 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 1,507 shares in the last quarter. 15.60% of the stock is owned by institutional investors and hedge funds.
Shares of Prospect Capital (NASDAQ PSEC) traded up $0.16 during midday trading on Thursday, reaching $7.26. The company’s stock had a trading volume of 5,149,342 shares, compared to its average volume of 2,812,257. The stock has a market capitalization of $2,558.80, a P/E ratio of 14.52 and a beta of 0.56. Prospect Capital has a 1 year low of $5.51 and a 1 year high of $9.58. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.78.
The company also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.72 annualized dividend and a yield of 9.92%. Prospect Capital’s dividend payout ratio (DPR) is 144.00%.
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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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