Prospect Capital (NASDAQ:PSEC) Posts Earnings Results, Beats Expectations By $0.07 EPS

Prospect Capital (NASDAQ:PSEC) released its quarterly earnings data on Wednesday. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07, Zacks reports. The firm had revenue of $212.26 million during the quarter. Prospect Capital had a return on equity of 13.32% and a net margin of 25.13%. During the same period last year, the company posted $0.23 EPS.

Prospect Capital Stock Performance

NASDAQ PSEC traded up $0.16 during trading hours on Friday, hitting $5.16. The company’s stock had a trading volume of 3,033,717 shares, compared to its average volume of 2,083,471. Prospect Capital has a 12 month low of $4.69 and a 12 month high of $6.30. The company’s 50 day simple moving average is $5.32 and its two-hundred day simple moving average is $5.44. The company has a market cap of $2.16 billion, a P/E ratio of 15.12 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.72 and a quick ratio of 0.72.

Prospect Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.72 annualized dividend and a dividend yield of 13.95%. Prospect Capital’s payout ratio is presently 211.76%.

Analysts Set New Price Targets

A number of brokerages recently commented on PSEC. Wells Fargo & Company dropped their price target on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Friday. StockNews.com raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th.

Insider Buying and Selling

In other Prospect Capital news, CFO Dask Kristin Lea Van acquired 3,330 shares of Prospect Capital stock in a transaction that occurred on Thursday, June 20th. The stock was bought at an average cost of $22.50 per share, for a total transaction of $74,925.00. Following the acquisition, the chief financial officer now owns 4,539 shares of the company’s stock, valued at $102,127.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 26.69% of the stock is owned by corporate insiders.

Prospect Capital Company Profile

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.