Prospect Capital (NASDAQ:PSEC – Get Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.20), FiscalAI reports. The company had revenue of $151.74 million for the quarter, compared to analyst estimates of $163.14 million. Prospect Capital had a return on equity of 12.15% and a net margin of 19.33%.
Prospect Capital Stock Performance
Shares of NASDAQ PSEC traded down $0.11 during mid-day trading on Wednesday, hitting $1.44. The company had a trading volume of 17,908,068 shares, compared to its average volume of 5,117,441. The stock has a market cap of $768.70 million, a price-to-earnings ratio of 28.80 and a beta of 0.84. The firm’s 50 day simple moving average is $1.94 and its two-hundred day simple moving average is $2.36. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.87 and a quick ratio of 0.87. Prospect Capital has a 12 month low of $1.40 and a 12 month high of $3.12.
Prospect Capital Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Wednesday, November 18th. Investors of record on Wednesday, October 28th will be issued a $0.0350 dividend. The ex-dividend date of this dividend is Wednesday, October 28th. This represents a $0.42 annualized dividend and a dividend yield of 29.2%. Prospect Capital’s dividend payout ratio (DPR) is 840.00%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on PSEC shares. Weiss Ratings downgraded shares of Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 26th. Wall Street Zen downgraded Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Zacks Research raised Prospect Capital to a “hold” rating in a research report on Monday, October 5th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Sell” and an average price target of $2.00.
Check Out Our Latest Research Report on Prospect Capital
Insider Buying and Selling at Prospect Capital
In other Prospect Capital news, CEO John Barry. III acquired 1,217,105 shares of Prospect Capital stock in a transaction dated Friday, September 4th. The stock was acquired at an average cost of $2.24 per share, for a total transaction of $2,726,315.20. Following the completion of the transaction, the chief executive officer owned 90,479,988 shares in the company, valued at approximately $202,675,173.12. This represents a 1.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 25.94% of the company’s stock.
About Prospect Capital
Prospect Capital Corporation (NASDAQ:PSEC) is a business development company that provides financing and investment capital to middle-market companies. The company primarily invests in privately held businesses through first-lien and second-lien loans, mezzanine debt, and other debt securities, while also making equity and equity-related investments in selected companies.
Prospect Capital invests across a range of industries and has additional exposure to areas such as real estate, structured credit, and financial services.
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