Prospect Capital Corp. (PSEC) Shares Down 1.4%
Prospect Capital Corp. (NASDAQ:PSEC) dropped 1.4% on Wednesday . The stock traded as low as $8.04 and last traded at $8.16, with a volume of 2,516,950 shares. The stock had previously closed at $8.28.
PSEC has been the subject of several recent analyst reports. TheStreet raised shares of Prospect Capital Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, May 11th. Wells Fargo & Co. reissued a “sell” rating and issued a $5.25 target price on shares of Prospect Capital Corp. in a report on Thursday, April 7th. National Securities cut shares of Prospect Capital Corp. from a “neutral” rating to a “sell” rating and set a $7.00 target price for the company. in a report on Tuesday. Deutsche Bank AG cut shares of Prospect Capital Corp. from a “buy” rating to a “hold” rating and dropped their target price for the stock from $8.50 to $7.00 in a report on Thursday, April 28th. Finally, Vetr cut shares of Prospect Capital Corp. from a “buy” rating to a “hold” rating and set a $7.97 target price for the company. in a report on Thursday, June 2nd. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $7.77.
The stock has a market capitalization of $2.94 billion and a P/E ratio of 28.55. The stock’s 50-day moving average is $7.82 and its 200-day moving average is $7.18.
Prospect Capital Corp. (NASDAQ:PSEC) last posted its earnings results on Tuesday, May 10th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by $0.01. During the same quarter in the previous year, the business earned $0.24 earnings per share. The firm earned $189.50 million during the quarter, compared to analysts’ expectations of $196.02 million. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts expect that Prospect Capital Corp. will post $1.03 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, August 31st will be paid a $0.0833 dividend. The ex-dividend date is Monday, August 29th. This represents a $1.00 annualized dividend and a yield of 12.12%.
A number of large investors have recently modified their holdings of PSEC. Robeco Institutional Asset Management B.V. boosted its stake in shares of Prospect Capital Corp. by 344,815.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 155,212 shares of the company’s stock valued at $1,083,000 after buying an additional 155,167 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Prospect Capital Corp. by 134.2% in the fourth quarter. Bank of Montreal Can now owns 4,022,830 shares of the company’s stock valued at $28,080,000 after buying an additional 2,305,257 shares during the last quarter. Finally, Trust & Fiduciary Management Services Inc. boosted its stake in shares of Prospect Capital Corp. by 1.3% in the fourth quarter. Trust & Fiduciary Management Services Inc. now owns 416,550 shares of the company’s stock valued at $2,908,000 after buying an additional 5,143 shares during the last quarter.
Prospect Capital Corporation is a financial services company. The Company is a non-diversified closed-end investment company. The Company’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.
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