Prospect Capital Corporation (NASDAQ:PSEC – Get Free Report) announced a monthly dividend on Wednesday, November 4th. Stockholders of record on Tuesday, December 29th will be paid a dividend of $0.0350 per share by the financial services provider on Wednesday, January 20th. This represents a $0.42 annualized dividend and a dividend yield of 29.5%. The ex-dividend date of this dividend is Tuesday, December 29th.
Prospect Capital has decreased its dividend payment by an average of 0.1% per year over the last three years. Prospect Capital has a dividend payout ratio of 89.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Prospect Capital to earn $0.35 per share next year, which means the company may not be able to cover its $0.42 annual dividend with an expected future payout ratio of 120.0%.
Prospect Capital Trading Down 1.0%
Shares of NASDAQ:PSEC traded down $0.01 during mid-day trading on Thursday, hitting $1.43. The company had a trading volume of 5,275,880 shares, compared to its average volume of 5,117,919. The firm has a fifty day moving average price of $1.93 and a 200 day moving average price of $2.35. The company has a market capitalization of $760.69 million, a PE ratio of 28.50 and a beta of 0.84. 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 one year low of $1.40 and a one year high of $3.12.
Prospect Capital (NASDAQ:PSEC – Get Free Report) last released its earnings results on Wednesday, November 4th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $151.74 million for the quarter, compared to the consensus estimate of $163.14 million. Prospect Capital had a net margin of 19.33% and a return on equity of 12.15%. As a group, research analysts forecast that Prospect Capital will post 0.38 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on PSEC shares. Zacks Research raised shares of Prospect Capital to a “hold” rating in a research report on Monday, October 5th. Wall Street Zen lowered Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Weiss Ratings cut Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Prospect Capital presently has an average rating of “Sell” and a consensus price target of $2.00.
Get Our Latest Stock Report on Prospect Capital
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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