Prospect Capital Corp. (PSEC) Hits New 12-Month High at $8.35
Shares of Prospect Capital Corp. (NASDAQ:PSEC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.35 and last traded at $8.28, with a volume of 846,089 shares changing hands. The stock had previously closed at $8.32.
A number of analysts recently issued reports on PSEC shares. TheStreet raised Prospect Capital Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, May 11th. Zacks Investment Research cut Prospect Capital Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th. Vetr raised Prospect Capital Corp. from a “hold” rating to a “buy” rating and set a $7.97 target price for the company in a research report on Monday, June 13th. FBR & Co reissued a “buy” rating on shares of Prospect Capital Corp. in a research report on Thursday, May 12th. Finally, National Securities cut Prospect Capital Corp. from a “neutral” rating to a “sell” rating and set a $7.00 target price for the company. in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $7.77.
The firm has a market capitalization of $2.94 billion and a price-to-earnings ratio of 28.55. The company’s 50 day moving average is $7.85 and its 200-day moving average is $7.19.
Prospect Capital Corp. (NASDAQ:PSEC) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company earned $189.50 million during the quarter, compared to analysts’ expectations of $196.02 million. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 earnings per share. Equities analysts anticipate that Prospect Capital Corp. will post $1.03 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, August 31st will be issued a $0.0833 dividend. This represents a $1.00 annualized dividend and a yield of 12.12%. The ex-dividend date is Monday, August 29th.
A number of hedge funds have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. raised 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 in the last quarter. Trust & Fiduciary Management Services Inc. raised 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 in the last quarter. Finally, Bank of Montreal Can raised 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 in 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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