Prospect Capital Corp. (PSEC) Sets New 12-Month High at $8.39
Prospect Capital Corp. (NASDAQ:PSEC) hit a new 52-week high during trading on Monday . The company traded as high as $8.39 and last traded at $8.35, with a volume of 1,113,190 shares changing hands. The stock had previously closed at $8.33.
A number of brokerages have commented on PSEC. Vetr downgraded shares of Prospect Capital Corp. from a “buy” rating to a “hold” rating and set a $7.97 price objective on the stock. in a research report on Thursday, June 2nd. Deutsche Bank AG downgraded shares of Prospect Capital Corp. from a “buy” rating to a “hold” rating and dropped their target price for the company from $8.50 to $7.00 in a research report on Thursday, April 28th. Wells Fargo & Co. reaffirmed a “sell” rating and issued a $5.25 target price on shares of Prospect Capital Corp. in a research report on Thursday, April 7th. National Securities reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Prospect Capital Corp. in a research report on Thursday, May 12th. Finally, Zacks Investment Research raised shares of Prospect Capital Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, May 19th. 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 stock currently has a consensus rating of “Hold” and an average target price of $7.77.
The stock has a 50-day moving average of $7.88 and a 200 day moving average of $7.21. The firm has a market cap of $2.97 billion and a P/E ratio of 28.875.
Prospect Capital Corp. (NASDAQ:PSEC) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by $0.01. During the same quarter last year, the business posted $0.24 earnings per share. The business had revenue of $189.50 million for the quarter, compared to analysts’ expectations of $196.02 million. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts anticipate that Prospect Capital Corp. will post $1.03 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.0833 per share. The ex-dividend date is Monday, August 29th. This represents a $1.00 dividend on an annualized basis and a yield of 11.92%.
A number of hedge funds and institutional investors have made changes to their positions in the stock. Robeco Institutional Asset Management B.V. boosted its position 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. Trust & Fiduciary Management Services Inc. boosted its position 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, Bank of Montreal Can boosted its position 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.
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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