Prospect Capital Corporation (PSEC) To Go Ex-Dividend on December 28th
Prospect Capital Corporation (NASDAQ:PSEC) declared a monthly dividend on Thursday, November 9th, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be given a dividend of 0.06 per share by the financial services provider on Thursday, January 18th. This represents a $0.72 dividend on an annualized basis and a yield of 10.18%. The ex-dividend date of this dividend is Thursday, December 28th.
Shares of Prospect Capital (PSEC) opened at $7.07 on Wednesday. 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 has a market capitalization of $2,616.46, a price-to-earnings ratio of 14.14 and a beta of 0.56.
Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). Prospect Capital had a net margin of 27.00% and a return on equity of 8.63%. The business had revenue of $158.58 million during the quarter, compared to analysts’ expectations of $161.00 million. During the same quarter in the prior year, the firm earned $0.22 EPS. Prospect Capital’s revenue for the quarter was down 11.8% compared to the same quarter last year. equities research analysts expect that Prospect Capital will post 0.72 EPS for the current fiscal year.
In other news, insider John F. Barry acquired 995,883 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average price of $6.98 per share, for a total transaction of $6,951,263.34. Following the acquisition, the insider now owns 25,219,413 shares of the company’s stock, valued at $176,031,502.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian H. Oswald acquired 35,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was purchased at an average price of $5.75 per share, for a total transaction of $201,250.00. The disclosure for this purchase can be found here. Insiders purchased a total of 3,600,621 shares of company stock worth $24,546,132 in the last quarter. Company insiders own 7.10% of the company’s stock.
A number of research firms have commented on PSEC. BidaskClub upgraded Prospect Capital from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. TheStreet downgraded Prospect Capital from a “b-” rating to a “c+” rating in a research report on Wednesday, September 27th. ValuEngine upgraded Prospect Capital from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. BMO Capital Markets cut their price objective on Prospect Capital from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, November 10th. Finally, Zacks Investment Research downgraded Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $6.17.
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About Prospect Capital
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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