Prospect Capital Co. (NASDAQ:PSEC) Plans Monthly Dividend of $0.06

Prospect Capital Co. (NASDAQ:PSECGet Rating) declared a monthly dividend on Wednesday, November 9th, Zacks reports. Investors of record on Monday, November 28th will be given a dividend of 0.06 per share by the financial services provider on Tuesday, December 20th. This represents a $0.72 annualized dividend and a yield of 9.24%. The ex-dividend date is Friday, November 25th.

Prospect Capital has raised its dividend by an average of 7.7% per year over the last three years. Prospect Capital has a payout ratio of 80.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Prospect Capital to earn $0.96 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 75.0%.

Prospect Capital Trading Up 0.6 %

PSEC stock opened at $7.79 on Thursday. The company has a market capitalization of $3.10 billion, a PE ratio of 12.17 and a beta of 0.98. Prospect Capital has a one year low of $6.09 and a one year high of $8.95. The company’s 50 day moving average price is $7.06 and its two-hundred day moving average price is $7.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.57.

Prospect Capital (NASDAQ:PSECGet Rating) last announced its earnings results on Monday, August 29th. The financial services provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Prospect Capital had a net margin of 36.40% and a return on equity of 9.50%. The firm had revenue of $184.62 million for the quarter, compared to analysts’ expectations of $179.74 million. During the same quarter in the previous year, the business posted $0.17 EPS. As a group, analysts predict that Prospect Capital will post 0.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PSEC has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Prospect Capital in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Wells Fargo & Company increased their price target on Prospect Capital from $5.75 to $6.00 and gave the company an “underweight” rating in a report on Friday, November 11th.

Institutional Investors Weigh In On Prospect Capital

Several hedge funds have recently made changes to their positions in the business. Toroso Investments LLC acquired a new position in Prospect Capital in the third quarter valued at approximately $99,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Prospect Capital during the third quarter valued at about $76,000. Captrust Financial Advisors raised its position in Prospect Capital by 28.6% in the third quarter. Captrust Financial Advisors now owns 13,503 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 3,002 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Prospect Capital by 17.7% during the third quarter. Mercer Global Advisors Inc. ADV now owns 20,206 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 3,043 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Prospect Capital by 69.9% in the third quarter. Bank of New York Mellon Corp now owns 38,735 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 15,940 shares during the period. Institutional investors and hedge funds own 7.50% of the company’s stock.

Prospect Capital Company Profile

(Get Rating)

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.

Further Reading

Dividend History for Prospect Capital (NASDAQ:PSEC)

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