Prospect Capital Corp. Cut to Underperform at Zacks (PSEC)
Prospect Capital Corp. (NASDAQ:PSEC) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Thursday. They currently have a $9.80 target price on the stock. Zacks‘s price objective would indicate a potential downside of 5.13% from the company’s current price.
Prospect Capital Corp. (NASDAQ:PSEC) traded down 0.44% on Thursday, hitting $10.285. 3,862,152 shares of the company’s stock traded hands. Prospect Capital Corp. has a one year low of $9.17 and a one year high of $11.62. The stock’s 50-day moving average is $10.74 and its 200-day moving average is $10.64. Prospect Capital Corp. also was the target of some unusual options trading on Tuesday. Stock investors purchased 16,232 put options on the stock. This is an increase of approximately 1,753% compared to the average volume of 876 put options.
Prospect Capital Corp. (NASDAQ:PSEC) last issued its quarterly earnings data on Monday, August 25th. The company reported $0.25 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.32 by $0.07. The company had revenue of $182.84 million for the quarter, compared to the consensus estimate of $213.74 million. During the same quarter last year, the company posted $0.38 earnings per share. Prospect Capital Corp.’s revenue was up 9.8% compared to the same quarter last year. On average, analysts predict that Prospect Capital Corp. will post $1.20 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Keefe, Bruyette & Woods cut their price target on shares of Prospect Capital Corp. from $11.00 to $10.00 in a research note on Wednesday. They now have a “market perform” rating on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Prospect Capital Corp. in a research note on Wednesday. They now have a $11.50 price target on the stock, down previously from $12.25. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $11.16.
Prospect Capital Corporation (NASDAQ:PSEC), is a financial services company, which lends to and invests in middle market privately-held companies.
To view Zacks’ full report, visit Zacks’ official website.
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