Prospect Capital Corp. (PSEC) Sees Large Volume Increase
Prospect Capital Corp. (NASDAQ:PSEC) shares saw strong trading volume on Thursday . 2,207,340 shares traded hands during trading, an increase of 19% from the previous session’s volume of 1,857,561 shares.The stock last traded at $8.46 and had previously closed at $8.61.
A number of research firms recently weighed in on PSEC. BMO Capital Markets reissued a “market perform” rating and set a $7.00 price target on shares of Prospect Capital Corp. in a research note on Thursday. Barclays PLC reissued an “equal weight” rating and set a $7.00 price target on shares of Prospect Capital Corp. in a research note on Wednesday. FBR & Co reissued an “outperform” rating and set a $10.00 price target (up from $9.00) on shares of Prospect Capital Corp. in a research note on Wednesday. Vetr downgraded shares of Prospect Capital Corp. from a “hold” rating to a “sell” rating and set a $8.29 price target for the company. in a research note on Wednesday. Finally, National Securities reissued a “sell” rating and set a $7.00 price target on shares of Prospect Capital Corp. in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $7.55.
The stock has a 50 day moving average of $8.36 and a 200 day moving average of $7.65. The company has a market capitalization of $3.03 billion and a P/E ratio of 29.41.
Prospect Capital Corp. (NASDAQ:PSEC) last issued its quarterly earnings results on Monday, August 29th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. The firm earned $193.04 million during the quarter. During the same quarter in the prior year, the business earned $0.25 EPS. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts expect that Prospect Capital Corp. will post $0.98 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Friday, September 30th will be given a $0.0833 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.76%.
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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