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.
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Industry, Sector and Symbol
Industry Investors, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
Phone212-448-0702
Debt
Price-To-Earnings
Sales & Book Value
Annual Sales$703.77 million
Profitability
Miscellaneous
EmployeesN/A
Next Earnings Date11/5/2019 (Estimated)
OptionableOptionable
Prospect Capital (NASDAQ:PSEC) Frequently Asked Questions
What is Prospect Capital's stock symbol?
Prospect Capital trades on the NASDAQ under the ticker symbol "PSEC."
How often does Prospect Capital pay dividends? What is the dividend yield for Prospect Capital?
Prospect Capital declared a -- dividend on Friday, August 30th. Stockholders of record on Monday, September 30th will be given a dividend of $0.06 per share on Thursday, October 24th. This represents a dividend yield of 11.3%. The ex-dividend date of this dividend is Friday, September 27th. View Prospect Capital's Dividend History.
How were Prospect Capital's earnings last quarter?
Prospect Capital Co. (NASDAQ:PSEC) released its quarterly earnings data on Tuesday, August, 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.20 by $0.01. The financial services provider had revenue of $164.40 million for the quarter, compared to analyst estimates of $166.69 million. Prospect Capital had a net margin of 20.53% and a return on equity of 9.36%. The business's revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 earnings per share. View Prospect Capital's Earnings History.
When is Prospect Capital's next earnings date?
What price target have analysts set for PSEC?
2 analysts have issued 1 year price objectives for Prospect Capital's stock. Their forecasts range from $4.00 to $6.00. On average, they anticipate Prospect Capital's stock price to reach $5.00 in the next twelve months. This suggests that the stock has a possible downside of 22.8%. View Analyst Price Targets for Prospect Capital.
What is the consensus analysts' recommendation for Prospect Capital?
2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Prospect Capital in the last year. There are currently 2 sell ratings for the stock, resulting in a consensus recommendation of "Sell." View Analyst Ratings for Prospect Capital.
What are Wall Street analysts saying about Prospect Capital stock?
Here are some recent quotes from research analysts about Prospect Capital stock:
- 1. 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. " (8/31/2019)
- 2. National Securities analysts commented, "▪ For F3Q19, PSEC posted NII/share of $0.21 versus our estimate of $0.19 and the quarterly dividend of $0.18/share. Dividend income came in at $4.5mm, below our $7.8mm estimate although other income was well above our estimate of $3.8mm at $11.5mm. As a reminder, last quarter, PSEC paid itself an amendment fee on its loan to NPRC, a company it controls. You can’t make this stuff up.
▪ As we expected, NPRC sales and thus dividends declined Q/Q to $1.0mm from $9.0mm and Valley Electric’s dividend decreased to $2.6mm from $4.0mm Q/Q. With increased cap rates, property sales within NPRC that are used to kick up dividend income to PSEC should continue to slow materially, as we see it.
▪ Unsurprisingly, PSEC continues to hold Edmentum at 74% of cost while Oaktree Specialty Lending (NASD: OCSL – BUY – $5.50) holds the same position at 2.5% of cost. Additionally, PSEC continues to own the same CLO equity tranche as Eagle Point (NYSE: ECC – BUY - $17.04), CIFC 2014-IV. At 12/31/18 (ECC has yet to report 3/31/19 numbers), PSEC had this position marked 17 points above ECC, despite an active market place for trading CLO equity. It’s worth noting that despite an active market and bids that are observable, PSEC uses a no name firm in California to run Monte Carlo simulations to come up with CLO values, which by wild coincidence are always higher than the market.
▪ First Tower’s equity was marked up to 253.6% of cost from 213.4% of cost Q/Q and the PIK rate was increased by 50 bps. The closest public comp we know of is Curo Group Holdings (NYSE: CURO – NR - $10.90) which has struggled significantly. This is brushing aside the reputational damage done by regulatory actions taken against First Tower in the past, too.
▪ We are revising our fiscal 2019 NII/share estimate to $0.85 from $0.82 and our fiscal 2020 NII/share estimate to $0.65 from $0.61." (5/13/2019)
Has Prospect Capital been receiving favorable news coverage?
Media headlines about PSEC stock have been trending very negative on Thursday, InfoTrie Sentiment Analysis reports. The research group identifies negative and positive media coverage by reviewing more than six thousand news and blog sources in real-time. The firm ranks coverage of companies on a scale of negative five to five, with scores closest to five being the most favorable. Prospect Capital earned a daily sentiment score of -3.2 on InfoTrie's scale. They also gave media stories about the financial services provider a news buzz of 10.0 out of 10, meaning that recent media coverage is extremely likely to have an effect on the company's share price in the immediate future. View News Stories for Prospect Capital.
Are investors shorting Prospect Capital?
Prospect Capital saw a drop in short interest in the month of September. As of September 15th, there was short interest totalling 15,890,000 shares, a drop of 15.6% from the August 15th total of 18,830,000 shares. Based on an average trading volume of 1,510,000 shares, the days-to-cover ratio is currently 10.5 days. Currently, 5.3% of the shares of the company are short sold. View Prospect Capital's Current Options Chain.
Who are some of Prospect Capital's key competitors?
Some companies that are related to Prospect Capital include Ares Capital (ARCC), TPG Specialty Lending (TSLX), New Mountain Finance (NMFC), Golub Capital BDC (GBDC), Pennantpark Floating Rate Capital (PFLT), PennantPark Investment (PNNT), Gladstone Investment (GAIN), Triplepoint Venture Growth BDC (TPVG), Capital Southwest (CSWC), Stellus Capital Investment (SCM), Oaktree Strategic Income (OCSI), Safeguard Scientifics (SFE), THL Credit (TCRD), Arlington Asset Investment (AI) and OFS Capital (OFS).
What other stocks do shareholders of Prospect Capital own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Prospect Capital investors own include Chembio Diagnostics (CEMI), Calumet Specialty Products Partners, L.P (CLMT), Two Harbors Investment (TWO), Blackrock Capital Investment (BKCC), Summit Midstream Partners (SMLP), Novocure (NVCR), Washington Prime Group (WPG), Viper Energy Partners (VNOM), New Residential Investment (NRZ) and Roper Technologies (ROP).
Who are Prospect Capital's key executives?
Prospect Capital's management team includes the folowing people:
- Mr. John Francis Barry III, J.D., Chairman & CEO (Age 67)
- Mr. Michael Grier Eliasek, Pres & COO (Age 45)
- Ms. Kristin Lea Van Dask CPA, CFO, Treasurer, Sec. & Chief Compliance Officer (Age 39)
- Mr. Al Faella, Chief Technology Officer
- Ms. Daria Becker, Head of Admin.
Who are Prospect Capital's major shareholders?
Prospect Capital's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Camelot Portfolios LLC (0.12%), DNB Asset Management AS (0.05%), Wedbush Securities Inc. (0.02%), Roman Butler Fullerton & Co. (0.01%), Sage Capital Advisors llc (0.01%) and KG&L Capital Management LLC (0.00%). Company insiders that own Prospect Capital stock include Brian H Oswald, Dask Kristin Lea Van, Eugene S Stark, John F Barry, M Grier Eliasek and William Gremp. View Institutional Ownership Trends for Prospect Capital.
Which institutional investors are selling Prospect Capital stock?
Which institutional investors are buying Prospect Capital stock?
PSEC stock was acquired by a variety of institutional investors in the last quarter, including DNB Asset Management AS, Roman Butler Fullerton & Co. and KG&L Capital Management LLC. Company insiders that have bought Prospect Capital stock in the last two years include Brian H Oswald, Dask Kristin Lea Van, Eugene S Stark, John F Barry, M Grier Eliasek and William Gremp. View Insider Buying and Selling for Prospect Capital.
How do I buy shares of Prospect Capital?
Shares of PSEC can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity and Charles Schwab.
What is Prospect Capital's stock price today?
One share of PSEC stock can currently be purchased for approximately $6.48.
How big of a company is Prospect Capital?
Prospect Capital has a market capitalization of $2.38 billion and generates $703.77 million in revenue each year. The financial services provider earns $144.49 million in net income (profit) each year or $0.85 on an earnings per share basis. View Additional Information About Prospect Capital.
What is Prospect Capital's official website?
How can I contact Prospect Capital?
Prospect Capital's mailing address is 10 EAST 40TH STREET 42ND FLOOR, NEW YORK NY, 10016. The financial services provider can be reached via phone at 212-448-0702 or via email at [email protected]
MarketBeat Community Rating for Prospect Capital (NASDAQ PSEC)
MarketBeat's community ratings are surveys of what our community members think about Prospect Capital and other stocks. Vote "Outperform" if you believe PSEC will outperform the S&P 500 over the long term. Vote "Underperform" if you believe PSEC will underperform the S&P 500 over the long term. You may vote once every thirty days.
