About Prospect Capital Corporation (NASDAQ:PSEC)
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. The Company invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. The Company makes investments, including lending in private equity sponsored transactions, lending directly to companies not owned by private equity firms, control investments in corporate operating companies, control investments in financial companies, investments in structured credit, real estate investments, investments in syndicated debt, aircraft leasing and online lending. The Company is managed by its investment advisor, Prospect Capital Management L.P.
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Closed End Funds
- Sub-Industry: Asset Management & Custody Banks
- Symbol: NASDAQ:PSEC
- CUSIP: 74348T10
- Web: www.prospectstreet.com
- 50 Day Moving Avg: $6.64
- 200 Day Moving Avg: $7.87
- 52 Week Range: $6.20 - $9.58
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 8.15
- P/E Growth: 1.63
- Annual Dividend: $0.72
- Dividend Yield: 11.3%
- Net Margins: 36.08%
- Return on Equity: 8.98%
- Return on Assets: 4.94%
- Debt-to-Equity Ratio: 0.79%
- Current Ratio: 1.90%
- Quick Ratio: 1.90%
- Average Volume: 3.01 million shs.
- Beta: 0.51
Frequently Asked Questions for Prospect Capital Corporation (NASDAQ:PSEC)
What is Prospect Capital Corporation's stock symbol?
Prospect Capital Corporation trades on the NASDAQ under the ticker symbol "PSEC."
How often does Prospect Capital Corporation pay dividends? What is the dividend yield for Prospect Capital Corporation?
Prospect Capital Corporation declared a monthly dividend on Tuesday, August 29th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.06 per share on Wednesday, November 22nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.32%. The ex-dividend date is Monday, October 30th. View Prospect Capital Corporation's Dividend History.
How were Prospect Capital Corporation's earnings last quarter?
Prospect Capital Corporation (NASDAQ:PSEC) issued its quarterly earnings data on Monday, August, 28th. The company reported $0.19 EPS for the quarter, missing the Zacks' consensus estimate of $0.21 by $0.02. The company had revenue of $166.70 million for the quarter, compared to analysts' expectations of $177.21 million. Prospect Capital Corporation had a return on equity of 8.98% and a net margin of 36.08%. The business's quarterly revenue was down 13.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 earnings per share. View Prospect Capital Corporation's Earnings History.
When will Prospect Capital Corporation make its next earnings announcement?
Where is Prospect Capital Corporation's stock going? Where will Prospect Capital Corporation's stock price be in 2017?
4 brokers have issued 1 year price objectives for Prospect Capital Corporation's shares. Their forecasts range from $5.00 to $8.50. On average, they anticipate Prospect Capital Corporation's share price to reach $6.83 in the next twelve months. View Analyst Ratings for Prospect Capital Corporation.
What are analysts saying about Prospect Capital Corporation stock?
Here are some recent quotes from research analysts about Prospect Capital Corporation stock:
- 1. National Securities analysts commented, "• We have long been critical of PSEC’s accounting, specifically pertaining to structured credit. The company has two different CLO equity investments identical to Eagle Point Credit (NYSE:ECC – BUY - $21.38) and one shared with TICC Capital Corp. (NASD:TICC – SELL - $6.73) that were held by both companies from 2Q16 and through at least 1Q17. What we found is that the markets, on average, are 25.2 points higher at PSEC relative to ECC and TICC.
• As of 6/30/16, First Tower Finance Company had a subordinated term loan with 10% cash and 12% PIK which was reduced to 10% cash and 7% PIK as of 6/30/17. The 42% Y/Y PIK rate decline amazingly lead to fair value remaining at cost on the subordinated term loan and the Class A units being marked down modestly. In total, the unrealized depreciation only increased by 1.6%!
• Probes Reporter confirmed through FOIA requests the SEC inquiries and investigate actions that Prospect denied during the same time periods. PSEC claimed the SEC probes ended in December 2015 despite Probes Reporter receiving confirmation from the SEC on 1/12/16 that the company was involved with “SEC investigative activity”. Additionally, on 2/10/16 PSEC management denied any SEC investigations or inquiries and yet after Probes Reporter filed an appeal to confirm previous responses they received a letter dated 2/25/16 confirming SEC enforcement proceedings which was, to our knowledge, reconfirmed again upon another appeal dated 3/20/17 by Probes Reporter. This is egregious that it was completely undisclosed by Prospect, in our opinion, and we do not believe shareholders should continue to hold shares at any amount of above $5.
• We are accordingly lowering our price target to $5 from $6 due to the fact that we have absolutely no trust in the accounting at Prospect." (10/12/2017)
- 2. According to Zacks Investment Research, "Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses. Prospect Capital's investment objective is to generate both current income and capital appreciation through debt and equity investments. " (9/1/2017)
Are investors shorting Prospect Capital Corporation?
Prospect Capital Corporation saw a increase in short interest during the month of September. As of September 29th, there was short interest totalling 31,219,378 shares, an increase of 6.9% from the September 15th total of 29,216,807 shares. Based on an average daily trading volume, of 2,189,768 shares, the days-to-cover ratio is presently 14.3 days. Currently, 9.7% of the shares of the company are short sold.
Who are some of Prospect Capital Corporation's key competitors?
Some companies that are related to Prospect Capital Corporation include 3i Infrastructure PLC (3IN), FS Investment Corporation (FSIC), Apollo Investment Corporation (AINV), Tortoise Energy Infrastructure Corporation (TYG), TPG Specialty Lending (TSLX), Liberty All-Star Equity Fund (USA), Golub Capital BDC (GBDC), New Mountain Finance Corporation (NMFC), Hercules Capital (HTGC), TCP Capital Corp. (TCPC), Solar Capital (SLRC), Ithaca Energy (IAE), Invesco California Value Municipal Income Trust (VCV), Triangle Capital Corporation (TCAP), PennantPark Investment Corporation (PNNT), PennantPark Floating Rate Capital (PFLT), Foresight Solar Fund Ltd (FSFL) and Fidus Investment Corporation (FDUS).
Who are Prospect Capital Corporation's key executives?
Prospect Capital Corporation's management team includes the folowing people:
- John F. Barry III, Chairman of the Board, Chief Executive Officer
- M. Grier Eliasek, President, Chief Operating Officer, Director
- Brian H. Oswald, Chief Financial Officer, Chief Compliance Officer, Treasurer, Secretary
- Andrew C. Cooper, Lead Independent Director
- William J. Gremp, Independent Director
- Eugene S. Stark, Independent Director
Who owns Prospect Capital Corporation stock?
Prospect Capital Corporation's stock is owned by many different of institutional and retail investors. Top institutional shareholders include Eqis Capital Management Inc. (0.00%). Company insiders that own Prospect Capital Corporation stock include Brian H Oswald, Eugene S Stark, John F Barry, M Grier Eliasek and William Gremp. View Institutional Ownership Trends for Prospect Capital Corporation.
Who bought Prospect Capital Corporation stock? Who is buying Prospect Capital Corporation stock?
Prospect Capital Corporation's stock was purchased by a variety of institutional investors in the last quarter, including Eqis Capital Management Inc.. Company insiders that have bought Prospect Capital Corporation stock in the last two years include Brian H Oswald, Eugene S Stark, John F Barry, M Grier Eliasek and William Gremp. View Insider Buying and Selling for Prospect Capital Corporation.
How do I buy Prospect Capital Corporation stock?
Shares of Prospect Capital Corporation can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Prospect Capital Corporation's stock price today?
MarketBeat Community Rating for Prospect Capital Corporation (NASDAQ PSEC)MarketBeat's community ratings are surveys of what our community members think about Prospect Capital Corporation and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of Prospect Capital Corporation stock can currently be purchased for approximately $6.36.
Consensus Ratings for Prospect Capital Corporation (NASDAQ:PSEC) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||1 Sell Rating, 3 Hold Ratings|
|Consensus Rating:||Hold (Score: 1.75)|
|Consensus Price Target: ||$6.83 (7.44% upside)|Consensus Price Target History for Prospect Capital Corporation (NASDAQ:PSEC)
Analysts' Ratings History for Prospect Capital Corporation (NASDAQ:PSEC)
(Data available from 10/22/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|10/12/2017||National Securities||Lower Price Target||Sell||$6.00 -> $5.00||N/A|
|8/30/2017||Raymond James Financial, Inc.||Upgrade||Underperform -> Market Perform||Medium|
|6/1/2017||BMO Capital Markets||Reiterated Rating||Hold||$7.00||Medium|
|5/11/2017||FBR & Co||Downgrade||Outperform -> Market Perform||$9.50 -> $8.50||High|
|8/31/2016||Barclays PLC||Reiterated Rating||Equal Weight||$7.00||N/A|
|4/28/2016||Deutsche Bank AG||Downgrade||Buy -> Hold||$8.50 -> $7.00||N/A|
|4/7/2016||Wells Fargo & Company||Reiterated Rating||Sell||$5.25||N/A|
|2/11/2016||Royal Bank Of Canada||Boost Price Target||Sector Perform||$9.00 -> $10.00||N/A|
|2/10/2016||Cantor Fitzgerald||Lower Price Target||Hold||$6.50||N/A|
Earnings History for Prospect Capital Corporation (NASDAQ:PSEC)Earnings History by Quarter for Prospect Capital Corporation (NASDAQ PSEC)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|8/28/2017||Q4 2017||$0.21||$0.19||$177.21 million||$166.70 million||View||N/A|
|5/9/2017||Q3 2017||$0.24||$0.20||$185.36 million||$171.00 million||View||Listen|
|2/8/2017||Q2 2017||$0.23||$0.24||$184.83 million||$183.48 million||View||Listen|
|11/8/2016||Q1||$0.24||$0.22||$185.46 million||$179.83 million||View||Listen|
|8/29/2016||Q416||$0.25||$0.26||$186.12 million||$193.04 million||View||N/A|
|5/10/2016||Q316||$0.26||$0.25||$196.02 million||$189.50 million||View||N/A|
|2/9/2016||Q216||$0.25||$0.28||$192.85 million||$209.19 million||View||N/A|
|11/4/2015||Q1||$0.25||$0.26||$196.71 million||$200.30 million||View||N/A|
|8/26/2015||Q4||$0.25||$0.25||$203.83 million||$198.83 million||View||Listen|
|5/6/2015||Q315||$0.26||$0.24||$201.50 million||$185.00 million||View||N/A|
|2/4/2015||Q215||$0.27||$0.26||$207.73 million||$198.88 million||View||N/A|
|11/6/2014||Q115||$0.28||$0.28||$203.50 million||$202.02 million||View||N/A|
|8/25/2014||Q414||$0.32||$0.25||$213.74 million||$182.84 million||View||N/A|
|5/6/2014||Q214||$0.32||$0.31||$202.52 million||$190.33 million||View||N/A|
|2/3/2014||Q114||$0.32||$0.30||$170.54 million||$147.00 million||View||N/A|
|8/21/2013||Q4 2013||$0.30||$0.38||$141.38 million||$166.47 million||View||N/A|
|5/6/2013||Q3 2013||$0.30||$0.26||$127.45 million||$120.20 million||View||N/A|
Earnings Estimates for Prospect Capital Corporation (NASDAQ:PSEC)
2017 EPS Consensus Estimate: $0.93
2018 EPS Consensus Estimate: $0.89
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Prospect Capital Corporation (NASDAQ:PSEC)
|Payout Ratio:||102.86% (Trailing 12 Months of Earnings) |
94.74% (Based on This Year's Estimates)
92.31% (Based on Next Year's Estimates)
Dividend History by Quarter for Prospect Capital Corporation (NASDAQ PSEC)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Prospect Capital Corporation (NASDAQ:PSEC)
Insider Ownership Percentage: 7.10%Insider Trades by Quarter for Prospect Capital Corporation (NASDAQ:PSEC)
Institutional Ownership Percentage: 15.20%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|9/1/2017||Brian H Oswald||CFO||Buy||50,000||$6.73||$336,500.00|| |
|8/30/2017||Eugene S Stark||Director||Buy||1,000||$6.75||$6,750.00|| |
|5/12/2017||Brian H Oswald||CFO||Buy||4,453||$8.05||$35,846.65|| |
|5/11/2017||Brian H Oswald||CFO||Buy||10,547||$8.07||$85,114.29|| |
|5/11/2017||William Gremp||Director||Buy||5,000||$8.28||$41,400.00|| |
|3/20/2017||Brian H Oswald||CFO||Buy||25,000||$9.31||$232,750.00|| |
|3/9/2017||Eugene S Stark||Director||Buy||1,000||$8.95||$8,950.00|| |
|12/14/2016||Brian H Oswald||CFO||Buy||5,000||$8.18||$40,900.00|| |
|11/10/2016||Eugene S Stark||Director||Buy||1,000||$7.65||$7,650.00|| |
|9/13/2016||Brian H Oswald||CFO||Buy||4,000||$7.85||$31,400.00|| |
|9/12/2016||Brian H Oswald||CFO||Buy||1,000||$7.85||$7,850.00|| |
|9/1/2016||Eugene S Stark||Director||Buy||2,000||$8.40||$16,800.00|| |
|5/12/2016||Eugene S Stark||Director||Buy||1,000||$7.45||$7,450.00|| |
|3/1/2016||M Grier Eliasek||COO||Buy||15,000||$7.25||$108,750.00|| |
|2/29/2016||M Grier Eliasek||COO||Buy||15,000||$7.09||$106,350.00|| |
|2/26/2016||M Grier Eliasek||COO||Buy||15,000||$6.93||$103,950.00|| |
|2/25/2016||M Grier Eliasek||COO||Buy||15,000||$7.00||$105,000.00|| |
|2/24/2016||M Grier Eliasek||COO||Buy||15,000||$6.89||$103,350.00|| |
|2/23/2016||M Grier Eliasek||COO||Buy||15,000||$6.91||$103,650.00|| |
|2/22/2016||John F Barry||CEO||Buy||1,100,000||$6.93||$7,623,000.00|| |
|2/22/2016||M Grier Eliasek||COO||Buy||15,000||$6.92||$103,800.00|| |
|2/19/2016||John F Barry||CEO||Buy||1,114,700||$6.83||$7,613,401.00|| |
|2/19/2016||M Grier Eliasek||COO||Buy||15,000||$6.79||$101,850.00|| |
|2/18/2016||John F Barry||CEO||Buy||1,114,000||$6.77||$7,541,780.00|| |
|2/17/2016||John F. Barry||CEO||Buy||1,109,000||$6.71||$7,441,390.00|| |
|2/17/2016||M Grier Eliasek||COO||Buy||15,000||$6.69||$100,350.00|| |
|2/16/2016||John F Barry||CEO||Buy||1,115,000||$6.36||$7,091,400.00|| |
|2/16/2016||M Grier Eliasek||COO||Buy||15,000||$6.30||$94,500.00|| |
|2/12/2016||John F. Barry||CEO||Buy||1,058,000||$6.15||$6,506,700.00|| |
|2/12/2016||M Grier Eliasek||COO||Buy||15,000||$6.22||$93,300.00|| |
|2/11/2016||John F Barry||CEO||Buy||1,060,000||$5.70||$6,042,000.00|| |
|2/11/2016||M Grier Eliasek||COO||Buy||15,000||$5.70||$85,500.00|| |
|12/24/2015||John F. Barry||CEO||Buy||1,032,500||$7.38||$7,619,850.00|| |
|12/23/2015||John F. Barry||CEO||Buy||1,028,924||$7.15||$7,356,806.60|| |
|12/23/2015||M Grier Eliasek||COO||Buy||50,000||$7.10||$355,000.00|| |
|12/22/2015||John F Barry||CEO||Buy||1,029,000||$6.86||$7,058,940.00|| |
|12/22/2015||M Grier Eliasek||COO||Buy||50,000||$6.78||$339,000.00|| |
|12/15/2015||John F. Barry||CEO||Buy||322,500||$6.38||$2,057,550.00|| |
|12/15/2015||M Grier Eliasek||COO||Buy||20,000||$6.28||$125,600.00|| |
|12/14/2015||Brian H Oswald||CFO||Buy||10,000||$6.30||$63,000.00|| |
|12/14/2015||John F Barry||CEO||Buy||165,000||$6.21||$1,024,650.00|| |
|12/11/2015||John F Barry||CEO||Buy||155,000||$6.65||$1,030,750.00|| |
|12/9/2015||Brian H Oswald||CFO||Buy||25,000||$6.77||$169,250.00|| |
|12/9/2015||John F Barry||CEO||Buy||150,000||$6.71||$1,006,500.00|| |
|12/9/2015||M Grier Eliasek||COO||Buy||30,000||$6.79||$203,700.00|| |
|11/11/2015||Eugene S Stark||Director||Buy||1,000||$7.30||$7,300.00|| |
|9/1/2015||Eugene S Stark||Director||Buy||1,000||$7.47||$7,470.00|| |
|6/10/2015||John F Barry||CEO||Buy||140,000||$7.32||$1,024,800.00|| |
|6/9/2015||Brian H Oswald||CFO||Buy||65,000||$7.27||$472,550.00|| |
|6/9/2015||M Grier Eliasek||COO||Buy||20,000||$7.23||$144,600.00|| |
|6/5/2015||John F Barry||CEO||Buy||131,060||$7.58||$993,434.80|| |
|2/11/2015||Eugene S Stark||Director||Buy||1,000||$8.50||$8,500.00|| |
|12/12/2014||Eugene S Stark||Director||Buy||4,000||$8.20||$32,800.00|| |
|12/9/2014||Brian H Oswald||CFO||Buy||63,500||$8.35||$530,225.00|| |
|12/9/2014||M Grier Eliasek||COO||Buy||25,000||$8.31||$207,750.00|| |
|12/8/2014||John F Barry||CEO||Buy||132,200||$8.46||$1,118,412.00|| |
|12/2/2014||Brian H Oswald||CFO||Buy||162,500||$9.12||$1,482,000.00|| |
|12/2/2014||M Grier Eliasek||COO||Buy||50,000||$9.10||$455,000.00|| |
|12/1/2014||John F Barry||CEO||Buy||115,000||$9.08||$1,044,200.00|| |
|11/10/2014||Eugene S Stark||Director||Buy||1,512||$9.40||$14,212.80|| |
|11/10/2014||John F Barry||CEO||Buy||110,000||$9.57||$1,052,700.00|| |
|11/10/2014||M Grier Eliasek||COO||Buy||5,000||$9.56||$47,800.00|| |
|9/16/2014||John F Barry||CEO||Buy||100,000||$10.17||$1,017,000.00|| |
|9/16/2014||M Grier Eliasek||COO||Buy||5,000||$10.10||$50,500.00|| |
|8/29/2014||M Grier Eliasek||COO||Buy||20,000||$10.26||$205,200.00|| |
|8/28/2014||Eugene S Stark||Director||Buy||4,000||$10.32||$41,280.00|| |
|8/27/2014||Brian H Oswald||CFO||Buy||27,300||$10.40||$283,920.00|| |
|6/13/2014||John F Barry||CEO||Buy||100,000||$10.37||$1,037,000.00|| |
|6/12/2014||Brian H Oswald||CFO||Buy||30,000||$10.25||$307,500.00|| |
|6/12/2014||Eugene S Stark||Director||Buy||1,000||$10.27||$10,270.00|| |
|6/12/2014||John F Barry||CEO||Buy||100,000||$10.33||$1,033,000.00|| |
|6/12/2014||M Grier Eliasek||COO||Buy||24,000||$10.28||$246,720.00|| |
|3/20/2014||John Barry||CEO||Buy||100,000||$10.86||$1,086,000.00|| |
|2/6/2014||Eugene Stark||Director||Buy||1,000||$11.10||$11,100.00|| |
|6/24/2013||M Grier Eliasek||COO||Buy||10,000||$10.28||$102,800.00|| |
|6/21/2013||John F Barry||CEO||Buy||6,500||$10.49||$68,185.00|| |
|6/21/2013||M Grier Eliasek||COO||Buy||9,800||$10.50||$102,900.00|| |
|6/20/2013||Brian H Oswald||CFO||Buy||21,700||$10.45||$226,765.00|| |
|6/20/2013||John F Barry||CEO||Buy||96,000||$10.46||$1,004,160.00|| |
|11/16/2012||Brian H Oswald||CFO||Buy||19,500||$10.15||$197,925.00|| |
|11/12/2012||M Grier Eliasek||COO||Buy||9,057||$10.56||$95,641.92|| |
|9/7/2012||Brian H Oswald||CFO||Buy||23,500||$11.69||$274,715.00|| |
Headline Trends for Prospect Capital Corporation (NASDAQ:PSEC)
Latest Headlines for Prospect Capital Corporation (NASDAQ:PSEC)
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Prospect Capital Corporation (PSEC) Chart for Sunday, October, 22, 2017