Zacks: Brokerages Expect Prospect Capital Corporation (PSEC) Will Announce Quarterly Sales of $154.76 Million
Wall Street analysts expect Prospect Capital Corporation (NASDAQ:PSEC) to post sales of $154.76 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Prospect Capital’s earnings, with the highest sales estimate coming in at $157.57 million and the lowest estimate coming in at $151.94 million. Prospect Capital posted sales of $183.48 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 15.7%. The company is scheduled to announce its next earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Prospect Capital will report full-year sales of $154.76 million for the current financial year, with estimates ranging from $623.00 million to $635.44 million. For the next financial year, analysts anticipate that the company will report sales of $631.75 million per share, with estimates ranging from $624.00 million to $639.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Prospect Capital.
Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $158.58 million for the quarter, compared to analyst estimates of $161.00 million. Prospect Capital had a return on equity of 8.63% and a net margin of 27.00%. Prospect Capital’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share.
In related news, insider M Grier Eliasek purchased 65,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average cost of $5.96 per share, with a total value of $387,400.00. Following the purchase, the insider now owns 1,002,196 shares of the company’s stock, valued at approximately $5,973,088.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian H. Oswald bought 35,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was acquired at an average cost of $5.75 per share, for a total transaction of $201,250.00. The disclosure for this purchase can be found here. Insiders purchased a total of 1,805,280 shares of company stock worth $12,292,458 over the last ninety days. 7.10% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trexquant Investment LP purchased a new position in Prospect Capital in the 3rd quarter worth approximately $108,000. Regal Investment Advisors LLC lifted its stake in Prospect Capital by 19.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 2,720 shares in the last quarter. Summit Securities Group LLC purchased a new position in Prospect Capital in the 2nd quarter worth approximately $142,000. Advisory Services Network LLC lifted its stake in Prospect Capital by 0.6% in the 2nd quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 105 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Prospect Capital in the 3rd quarter worth approximately $127,000. 15.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Prospect Capital (NASDAQ:PSEC) opened at $6.73 on Tuesday. Prospect Capital has a 12-month low of $5.51 and a 12-month high of $9.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.63 and a current ratio of 2.63. The firm has a market capitalization of $2,430.00, a PE ratio of 8.38 and a beta of 0.55.
The business also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 10.70%. The ex-dividend date is Tuesday, January 30th. Prospect Capital’s dividend payout ratio is presently 141.18%.
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Prospect Capital Company Profile
Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
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