Prospect Capital (NASDAQ:PSEC) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Prospect Capital (NASDAQ:PSEC) issued its quarterly earnings results on Monday. The financial services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.09, Zacks reports. The company had revenue of $176.00 million for the quarter, compared to the consensus estimate of $156.34 million. Prospect Capital had a positive return on equity of 12.29% and a negative net margin of 42.50%.

Prospect Capital Trading Down 1.1%

Shares of Prospect Capital stock opened at $2.61 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $2.68 and a 200-day simple moving average of $2.75. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -3.03 and a beta of 0.89. Prospect Capital has a 12-month low of $2.45 and a 12-month high of $4.47.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PSEC. Weiss Ratings reiterated a “sell (d)” rating on shares of Prospect Capital in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell” and an average price target of $2.50.

Hedge Funds Weigh In On Prospect Capital

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. lifted its holdings in shares of Prospect Capital by 0.5% in the 2nd quarter. Raymond James Financial Inc. now owns 844,465 shares of the financial services provider’s stock valued at $2,685,000 after purchasing an additional 3,880 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in Prospect Capital by 1.3% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 520,592 shares of the financial services provider’s stock worth $1,655,000 after buying an additional 6,516 shares during the period. BNP Paribas Financial Markets lifted its stake in Prospect Capital by 1.8% in the third quarter. BNP Paribas Financial Markets now owns 504,342 shares of the financial services provider’s stock valued at $1,387,000 after buying an additional 9,008 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Prospect Capital by 381.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 12,687 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 10,052 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Prospect Capital by 51.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 32,262 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 10,930 shares during the last quarter. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Prospect Capital Company Profile

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.