$153.89 Million in Sales Expected for Prospect Capital Co. (PSEC) This Quarter
Wall Street analysts forecast that Prospect Capital Co. (NASDAQ:PSEC) will post sales of $153.89 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Prospect Capital’s earnings, with the lowest sales estimate coming in at $150.57 million and the highest estimate coming in at $157.21 million. Prospect Capital posted sales of $171.03 million during the same quarter last year, which suggests a negative year over year growth rate of 10%. The business is expected to announce its next earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that Prospect Capital will report full year sales of $153.89 million for the current financial year, with estimates ranging from $622.00 million to $637.56 million. For the next financial year, analysts anticipate that the business will report sales of $619.71 million per share, with estimates ranging from $602.00 million to $637.42 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Prospect Capital.
Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $162.40 million during the quarter, compared to the consensus estimate of $153.94 million. Prospect Capital had a net margin of 31.02% and a return on equity of 8.36%. The firm’s revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS.
In other news, insider M Grier Eliasek acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were purchased at an average price of $6.69 per share, for a total transaction of $66,900.00. Following the completion of the transaction, the insider now owns 1,082,196 shares of the company’s stock, valued at $7,239,891.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John F. Barry acquired 250,000 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was purchased at an average price of $6.77 per share, for a total transaction of $1,692,500.00. Following the transaction, the insider now directly owns 27,716,950 shares of the company’s stock, valued at approximately $187,643,751.50. The disclosure for this purchase can be found here. Insiders acquired 3,573,733 shares of company stock worth $24,674,361 in the last 90 days. Corporate insiders own 7.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PSEC. Two Sigma Investments LP increased its position in shares of Prospect Capital by 3,302.2% in the fourth quarter. Two Sigma Investments LP now owns 1,658,719 shares of the financial services provider’s stock valued at $11,180,000 after acquiring an additional 1,609,964 shares during the period. Quinn Opportunity Partners LLC purchased a new position in shares of Prospect Capital in the fourth quarter valued at about $4,508,000. Penn Mutual Life Insurance Co purchased a new position in shares of Prospect Capital in the third quarter valued at about $3,992,000. Millennium Management LLC purchased a new position in shares of Prospect Capital in the fourth quarter valued at about $3,566,000. Finally, Cowen Inc. increased its position in shares of Prospect Capital by 200.0% in the third quarter. Cowen Inc. now owns 248,000 shares of the financial services provider’s stock valued at $1,667,000 after acquiring an additional 496,000 shares during the period. Hedge funds and other institutional investors own 14.33% of the company’s stock.
Prospect Capital (NASDAQ PSEC) remained flat at $$6.56 during trading on Wednesday. The company’s stock had a trading volume of 1,355,011 shares, compared to its average volume of 2,330,000. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.32 and a quick ratio of 4.32. The firm has a market capitalization of $2,360.00, a P/E ratio of 11.51 and a beta of 0.42. Prospect Capital has a fifty-two week low of $5.51 and a fifty-two week high of $9.49.
The firm also recently declared a monthly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Friday, March 30th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 10.98%. The ex-dividend date of this dividend is Wednesday, March 28th. Prospect Capital’s dividend payout ratio is presently 126.32%.
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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