Prospect Capital Corporation (PSEC) Expected to Post Quarterly Sales of $154.76 Million
Wall Street brokerages expect that Prospect Capital Corporation (NASDAQ:PSEC) will post $154.76 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Prospect Capital’s earnings. The highest sales estimate is $157.57 million and the lowest is $151.94 million. Prospect Capital posted sales of $183.48 million during the same quarter last year, which would suggest a negative year over year growth rate of 15.7%. The firm is expected to issue its next earnings results on Wednesday, February 14th.
According to Zacks, analysts expect that Prospect Capital will report full year sales of $154.76 million for the current year, with estimates ranging from $623.00 million to $635.44 million. For the next fiscal year, analysts forecast that the business will post sales of $631.75 million per share, with estimates ranging from $624.00 million to $639.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Prospect Capital.
Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data 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). Prospect Capital had a net margin of 27.00% and a return on equity of 8.63%. The business had revenue of $158.58 million during the quarter, compared to the consensus estimate of $161.00 million. During the same period in the prior year, the company posted $0.22 earnings per share. The firm’s revenue was down 11.8% compared to the same quarter last year.
In other Prospect Capital news, CFO Brian H. Oswald bought 35,000 shares of the stock in a transaction dated Friday, November 10th. The stock was bought at an average cost of $5.75 per share, for a total transaction of $201,250.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider M Grier Eliasek bought 65,000 shares of the stock in a transaction dated Friday, November 10th. The stock was acquired at an average price of $5.65 per share, with a total value of $367,250.00. The disclosure for this purchase can be found here. Insiders have acquired 4,604,521 shares of company stock valued at $31,784,051 over the last quarter. Corporate insiders own 7.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP boosted its holdings in Prospect Capital by 277.0% during the third quarter. GSA Capital Partners LLP now owns 149,438 shares of the financial services provider’s stock worth $1,004,000 after buying an additional 109,803 shares during the last quarter. Archford Capital Strategies LLC boosted its holdings in Prospect Capital by 16.3% during the third quarter. Archford Capital Strategies LLC now owns 68,399 shares of the financial services provider’s stock worth $460,000 after buying an additional 9,569 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Prospect Capital by 5.4% during the third quarter. California Public Employees Retirement System now owns 808,100 shares of the financial services provider’s stock worth $5,430,000 after buying an additional 41,100 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Prospect Capital by 86.9% during the third quarter. Janney Montgomery Scott LLC now owns 87,689 shares of the financial services provider’s stock worth $589,000 after buying an additional 40,765 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Prospect Capital during the third quarter worth about $127,000. Hedge funds and other institutional investors own 15.60% of the company’s stock.
Shares of Prospect Capital (PSEC) traded down $0.03 during mid-day trading on Tuesday, reaching $6.87. The company had a trading volume of 1,436,900 shares, compared to its average volume of 2,301,100. The company has a market capitalization of $2,450.00, a PE ratio of 13.47 and a beta of 0.56. Prospect Capital has a 52-week low of $5.51 and a 52-week 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 business also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, January 30th. This represents a $0.72 annualized dividend and a yield of 10.48%. Prospect Capital’s dividend payout ratio is currently 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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