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

Prospect Capital Co. (NASDAQ:PSEC) declared a monthly dividend on Friday, February 9th, Wall Street Journal reports. Stockholders of record on Monday, April 30th will be given a dividend of 0.06 per share by the financial services provider on Thursday, May 24th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.64%. The ex-dividend date of this dividend is Friday, April 27th.

Prospect Capital (NASDAQ PSEC) opened at $6.77 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.32 and a quick ratio of 2.63. Prospect Capital has a 1 year low of $5.51 and a 1 year high of $9.58. The company has a market cap of $2,540.00, a P/E ratio of 11.88 and a beta of 0.48.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Prospect Capital had a net margin of 31.02% and a return on equity of 8.36%. The company had revenue of $162.40 million during the quarter, compared to analyst estimates of $153.94 million. During the same period last year, the business earned $0.28 earnings per share. Prospect Capital’s revenue was down 11.5% compared to the same quarter last year. analysts predict that Prospect Capital will post 0.72 EPS for the current fiscal year.

In related news, insider John F. Barry bought 162,826 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were acquired at an average cost of $6.72 per share, with a total value of $1,094,190.72. Following the completion of the purchase, the insider now directly owns 26,425,625 shares of the company’s stock, valued at approximately $177,580,200. The acquisition was disclosed in a filing 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 that occurred on Monday, November 13th. The stock was bought at an average cost of $5.96 per share, for a total transaction of $387,400.00. Following the completion of the purchase, the insider now directly owns 1,002,196 shares of the company’s stock, valued at $5,973,088.16. The disclosure for this purchase can be found here. Insiders purchased 4,504,521 shares of company stock worth $31,215,551 over the last ninety days. 7.10% of the stock is currently owned by insiders.

A number of research firms have recently commented on PSEC. BidaskClub upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. ValuEngine upgraded shares of Prospect Capital from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. BMO Capital Markets restated a “hold” rating and issued a $7.00 price objective on shares of Prospect Capital in a research report on Monday, January 8th. Zacks Investment Research downgraded shares of Prospect Capital from a “buy” rating to a “hold” rating in a research note on Saturday, January 20th. Finally, National Securities lowered their target price on shares of Prospect Capital from $5.00 to $4.00 and set a “sell” rating on the stock in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.81.

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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.

Dividend History for Prospect Capital (NASDAQ:PSEC)

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