Analysts Set Prospect Capital Corp. (PSEC) Target Price at $7.56
Shares of Prospect Capital Corp. (NASDAQ:PSEC) have received an average recommendation of “Hold” from the twelve ratings firms that are covering the firm. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $7.56.
PSEC has been the subject of several research analyst reports. Vetr upgraded Prospect Capital Corp. from a “hold” rating to a “buy” rating and set a $8.72 price target for the company in a report on Wednesday, September 21st. FBR & Co restated a “buy” rating and set a $9.00 price target on shares of Prospect Capital Corp. in a report on Thursday, November 10th. Barclays PLC restated an “equal weight” rating and set a $7.00 price target on shares of Prospect Capital Corp. in a report on Wednesday, August 31st. BMO Capital Markets restated a “hold” rating on shares of Prospect Capital Corp. in a report on Thursday, November 10th. Finally, TheStreet cut Prospect Capital Corp. from a “buy” rating to a “hold” rating in a report on Thursday, November 10th.
In other Prospect Capital Corp. news, CFO Brian H. Oswald purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was purchased at an average cost of $7.85 per share, with a total value of $31,400.00. Following the purchase, the chief financial officer now owns 480,000 shares of the company’s stock, valued at $3,768,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.60% of the company’s stock.
A number of large investors have recently modified their holdings of PSEC. Acrospire Investment Management LLC purchased a new stake in shares of Prospect Capital Corp. during the second quarter worth $102,000. Paragon Capital Management Ltd raised its stake in shares of Prospect Capital Corp. by 25.9% in the second quarter. Paragon Capital Management Ltd now owns 13,410 shares of the company’s stock worth $105,000 after buying an additional 2,759 shares during the period. Blair William & Co. IL raised its stake in shares of Prospect Capital Corp. by 28.7% in the second quarter. Blair William & Co. IL now owns 13,450 shares of the company’s stock worth $105,000 after buying an additional 3,000 shares during the period. WealthTrust Fairport LLC purchased a new stake in shares of Prospect Capital Corp. during the third quarter worth $112,000. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Prospect Capital Corp. by 25.3% in the second quarter. Stratos Wealth Partners LTD. now owns 14,457 shares of the company’s stock worth $113,000 after buying an additional 2,919 shares during the period. 11.64% of the stock is owned by institutional investors and hedge funds.
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Prospect Capital Corp. (NASDAQ:PSEC) opened at 8.05 on Monday. The stock’s 50 day moving average price is $7.90 and its 200 day moving average price is $8.01. Prospect Capital Corp. has a 1-year low of $5.21 and a 1-year high of $8.68.
Prospect Capital Corp. (NASDAQ:PSEC) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.24 by $0.02. The firm had revenue of $179.83 million for the quarter, compared to analysts’ expectations of $185.46 million. Prospect Capital Corp. had a net margin of 20.34% and a return on equity of 10.25%. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. On average, equities analysts anticipate that Prospect Capital Corp. will post $0.93 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, February 16th. Investors of record on Tuesday, January 31st will be paid a dividend of $0.0833 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.42%. The ex-dividend date of this dividend is Friday, January 27th. Prospect Capital Corp.’s dividend payout ratio is currently 227.28%.
About Prospect Capital Corp.
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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