Prospect Capital Corp. (PSEC) Sees Large Volume Increase
Prospect Capital Corp. (NASDAQ:PSEC) shares saw unusually-high trading volume on Thursday . Approximately 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.
PSEC has been the topic of several analyst reports. Zacks Investment Research lowered shares of Prospect Capital Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 20th. National Securities lowered shares of Prospect Capital Corp. from a “neutral” rating to a “sell” rating and set a $7.00 price target on the stock. in a research report on Tuesday, July 19th. Vetr upgraded shares of Prospect Capital Corp. from a “sell” rating to a “hold” rating and set a $8.29 price target on the stock in a research report on Thursday, August 25th. TheStreet upgraded shares of Prospect Capital Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, May 11th. Finally, FBR & Co reiterated an “outperform” rating and set a $10.00 price target (up previously from $9.00) on shares of Prospect Capital Corp. in a research report on Wednesday. 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 stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.55.
The firm has a market cap of $3.03 billion and a P/E ratio of 29.45. The company has a 50-day moving average price of $8.38 and a 200 day moving average price of $7.67.
Prospect Capital Corp. (NASDAQ:PSEC) last posted its quarterly earnings results on Monday, August 29th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. The business earned $193.04 million during the quarter. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 earnings per share. Equities research analysts forecast that Prospect Capital Corp. will post $0.98 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be issued a dividend of $0.0833 per share. This represents a $1.00 dividend on an annualized basis and a yield of 11.75%. The ex-dividend date is Wednesday, September 28th.
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.