Equities analysts expect Prospect Capital Co. (NASDAQ:PSEC) to post $156.47 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Prospect Capital’s earnings. The highest sales estimate is $162.36 million and the lowest is $150.57 million. Prospect Capital reported sales of $166.70 million during the same quarter last year, which would suggest a negative year over year growth rate of 6.1%. The business is expected to report its next quarterly earnings results on Monday, August 27th.
According to Zacks, analysts expect that Prospect Capital will report full year sales of $634.09 million for the current fiscal year, with estimates ranging from $622.00 million to $646.18 million. For the next fiscal year, analysts anticipate that the company will post sales of $625.17 million per share, with estimates ranging from $602.00 million to $648.34 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Prospect Capital.
Get Prospect Capital alerts:Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Wednesday, May 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Prospect Capital had a return on equity of 8.31% and a net margin of 36.39%. The company had revenue of $162.84 million for the quarter, compared to analysts’ expectations of $153.08 million. During the same period last year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis.
Several brokerages have recently issued reports on PSEC. BidaskClub upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. ValuEngine cut Prospect Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. National Securities reiterated a “sell” rating and set a $4.00 price target on shares of Prospect Capital in a research report on Monday, May 14th. Finally, Zacks Investment Research upgraded Prospect Capital from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a research report on Tuesday, May 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $6.17.
Shares of Prospect Capital traded down $0.03, hitting $6.83, during mid-day trading on Friday, MarketBeat reports. 1,281,579 shares of the stock traded hands, compared to its average volume of 1,525,604. Prospect Capital has a twelve month low of $5.51 and a twelve month high of $8.40. The stock has a market cap of $2.48 billion, a PE ratio of 8.04 and a beta of 0.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 0.99.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, September 20th. Stockholders of record on Friday, August 31st will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 10.54%. The ex-dividend date is Thursday, August 30th. Prospect Capital’s dividend payout ratio is presently 84.71%.
In related news, insider John F. Barry acquired 269,197 shares of Prospect Capital stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average cost of $6.63 per share, with a total value of $1,784,776.11. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John F. Barry acquired 4,483 shares of Prospect Capital stock in a transaction dated Wednesday, March 21st. The shares were bought at an average cost of $6.50 per share, with a total value of $29,139.50. Following the completion of the purchase, the insider now owns 34,413,790 shares in the company, valued at $223,689,635. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 443,224 shares of company stock valued at $2,915,694. Corporate insiders own 7.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD bought a new stake in shares of Prospect Capital during the 4th quarter worth $2,544,000. Virtu Financial LLC boosted its stake in shares of Prospect Capital by 302.9% during the 4th quarter. Virtu Financial LLC now owns 294,330 shares of the financial services provider’s stock worth $1,984,000 after acquiring an additional 221,274 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Prospect Capital by 266.2% during the 4th quarter. Eqis Capital Management Inc. now owns 438,826 shares of the financial services provider’s stock worth $2,958,000 after acquiring an additional 319,001 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new stake in shares of Prospect Capital during the 4th quarter worth $130,000. Finally, Aperio Group LLC boosted its stake in shares of Prospect Capital by 51.6% during the 4th quarter. Aperio Group LLC now owns 62,741 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 21,357 shares in the last quarter. 12.73% of the stock is owned by institutional investors and hedge funds.
About Prospect Capital
Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, buyouts, recapitalizations, turnaround, growth capital, development, subordinated debt tranches of collateralized loan obligations, cash flow term loans, and bridge transactions.
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