Prospect Capital Corp. (PSEC) Stock Price Down 1.4%
Prospect Capital Corp. (NASDAQ:PSEC)’s share price dropped 1.4% during mid-day trading on Wednesday . The company traded as low as $8.04 and last traded at $8.16, with a volume of 2,516,950 shares changing hands. The stock had previously closed at $8.28.
PSEC has been the subject of a number of recent analyst reports. Wells Fargo & Co. reiterated a “sell” rating and issued a $5.25 target price on shares of Prospect Capital Corp. in a research report on Thursday, April 7th. Zacks Investment Research lowered shares of Prospect Capital Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th. Deutsche Bank AG lowered shares of Prospect Capital Corp. from a “buy” rating to a “hold” rating and reduced their price objective for the company from $8.50 to $7.00 in a research report on Thursday, April 28th. National Securities restated a “neutral” rating and set a $7.00 price objective on shares of Prospect Capital Corp. in a research report on Thursday, May 12th. Finally, TheStreet upgraded shares of Prospect Capital Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, May 11th. Four analysts have rated the stock with a sell rating, five have assigned 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 price target of $7.77.
The stock has a 50 day moving average price of $7.86 and a 200-day moving average price of $7.20. The company has a market capitalization of $2.97 billion and a price-to-earnings ratio of 28.86.
Prospect Capital Corp. (NASDAQ:PSEC) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.01. The business earned $189.50 million during the quarter, compared to analysts’ expectations of $196.02 million. During the same period in the previous year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Prospect Capital Corp. will post $1.03 EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, September 22nd. Shareholders 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 dividend on an annualized basis and a yield of 12.06%.
A number of large investors have recently made changes to their positions in the stock. 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 worth $28,080,000 after buying an additional 2,305,257 shares during the period. 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 worth $2,908,000 after buying an additional 5,143 shares during the period. Finally, 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 worth $1,083,000 after buying an additional 155,167 shares during the period.
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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