Prospect Capital Corp. Receives Consensus Rating of “Hold” from Brokerages (NASDAQ:PSEC)
Prospect Capital Corp. (NASDAQ:PSEC) has been given an average recommendation of “Hold” by the ten analysts that are covering the stock, StockRatingsNetwork.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $11.16.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Prospect Capital Corp. from a “neutral” rating to an “underperform” rating in a research note on Thursday. They now have a $9.80 price target on the stock. Separately, 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, August 27th. They now have a “market perform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Prospect Capital Corp. in a research note on Wednesday, August 27th. They now have a $11.50 price target on the stock, down previously from $12.25.
Shares of Prospect Capital Corp. (NASDAQ:PSEC) opened at 10.31 on Thursday. Prospect Capital Corp. has a 52 week low of $9.17 and a 52 week high of $11.62. The stock’s 50-day moving average is $10.72 and its 200-day moving average is $10.63. Prospect Capital Corp. also was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totalling 18,927,190 shares, a growth of 8.0% from the July 31st total of 17,529,426 shares. Based on an average daily trading volume, of 3,071,071 shares, the short-interest ratio is presently 6.2 days. Currently, 5.8% of the shares of the company are sold short.
Prospect Capital Corp. (NASDAQ:PSEC) last released its 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.
In other Prospect Capital Corp. news, Director Eugene S. Stark acquired 4,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, August 28th. The shares were purchased at an average cost of $10.32 per share, with a total value of $41,280.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Prospect Capital Corporation (NASDAQ:PSEC), is a financial services company, which lends to and invests in middle market privately-held companies.
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