NASDAQ:PSEC - Prospect Capital Stock Price, News, & Analysis

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$6.61 -0.06 (-0.90 %)
(As of 03/24/2019 04:00 PM ET)
Previous Close$6.61
Today's Range$6.59 - $6.69
52-Week Range$5.70 - $7.60
Volume1.55 million shs
Average Volume1.69 million shs
Market Capitalization$2.42 billion
P/E Ratio8.37
Dividend Yield10.89%
Beta0.69
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. It also makes real estate investments particularly in multi-family residential real estate asset class. The fund makes secured debt, senior debt, senior and secured term loans, unitranche debt, first-lien and second lien, private debt, private equity, mezzanine debt, and equity investments in private and microcap public businesses. It focuses on both primary origination and secondary loans/portfolios and invests in situations like debt financings for private equity sponsors, acquisitions, dividend recapitalizations, growth financings, bridge loans, cash flow term loans, real estate financings/investments. It also focuses on investing in small-sized and medium-sized private companies rather than large public companies. The fund typically invests across all industry sectors, with a particular expertise in the energy and industrial sectors. It invests in aerospace and defense, chemicals, conglomerate services, consumer services, ecological, electronics, financial services, machinery, manufacturing, media, pharmaceuticals, retail, software, specialty minerals, textiles and leather, transportation, oil and gas production, coal production, materials, industrials, consumer discretionary, information technology, utilities, pipeline, storage, power generation and distribution, renewable and clean energy, oilfield services, healthcare, food and beverage, education, business services, and other select sectors. It prefers to invest in the United States and Canada. The fund seeks to invest between $10 million to $500 million per transaction in companies with EBITDA between $5 million and $150 million, sales value between $25 million and $500 million, and enterprise value between $5 million and $1000 million. It fund also co-invests for larger deals. The fund seeks control acquisitions by providing multiple levels of the capital structure. The fund focuses on sole, agented, club, or syndicated deals.

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Industry, Sector and Symbol

Industry Investors, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
Current SymbolNASDAQ:PSEC
CUSIP74348T10
Phone212-448-0702

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$607.01 million
Cash Flow$0.9092 per share
Book Value$9.38 per share

Profitability

Net Income$299.86 million

Miscellaneous

EmployeesN/A
Market Cap$2.42 billion
Next Earnings Date5/8/2019 (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 monthly dividend on Thursday, February 7th. Stockholders of record on Thursday, February 28th will be paid a dividend of $0.06 per share on Thursday, March 21st. This represents a $0.72 annualized dividend and a dividend yield of 10.89%. The ex-dividend date of this dividend is Wednesday, February 27th. View Prospect Capital's Dividend History.

How were Prospect Capital's earnings last quarter?

Prospect Capital Co. (NASDAQ:PSEC) issued its quarterly earnings data on Wednesday, February, 6th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, meeting the Zacks' consensus estimate of $0.22. The financial services provider had revenue of $187.88 million for the quarter, compared to analyst estimates of $182.09 million. Prospect Capital had a net margin of 25.89% and a return on equity of 9.37%. The business's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. View Prospect Capital's Earnings History.

When is Prospect Capital's next earnings date?

Prospect Capital is scheduled to release their next quarterly earnings announcement on Wednesday, May 8th 2019. View Earnings Estimates for Prospect Capital.

What price target have analysts set for PSEC?

2 analysts have issued 12 month price objectives for Prospect Capital's stock. Their predictions range from $4.00 to $6.00. On average, they expect Prospect Capital's stock price to reach $5.00 in the next twelve months. This suggests that the stock has a possible downside of 24.4%. 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. National Securities analysts commented, " Prospect earned NII/share of $0.22 for F2Q19, a penny shy of our estimate as expenses were 8.4% above our forecast despite revenues being 1.9% higher. We had modeled $18.5mm of control investment dividend income which came in at $13.0mm but “other income” from control investments was $15.7mm versus our $2.8mm estimate as PSEC had a significant return of capital on its equity in NPRC and amended its loan terms for a $12.8mm structuring fee. We think that with cap rates rising future sales will generate less gains for PSEC from NPRC and that the most of the other income is also likely to be non-recurring, which points to pressure on earnings, in our opinion.
     During the quarter, the average bid on a loan price according to the LSTA (Loan Syndication & Trading Association) declined by 5.8% as heavy outflows from loan funds forced managers to sell loans to meet redemptions. Yet Prospect’s CLO equity portfolio depreciated by 4.3% Q/Q, less than the average bid on a loan despite BSL CLO equity typically being leveraged 10x. As we see it, this makes absolutely no sense.
     Non-accruals at cost increased to $488.5mm or 8.0% of the portfolio from $348.2mm or 5.8% of the portfolio Q/Q. Notably, after the other term loans were past due for a year, Interdent’s term loan C and D were finally placed on non-accrual status. The term loan C was marked down to 61% of cost from 71% the quarter prior although the three term loans ahead of it are still carried at cost. We’re not exactly surprised.
     Pacific World’s term loan A was placed on non-accrual status although it’s being carried above cost although we think it is likely that this loan gets written down materially with time. The term loan B, which had already been on non-accrual status, was marked down to 15% of cost from 49% Q/Q. Universal Turbine Parts had its equity purchased by PSEC who then placed three of its employees on the newly formed Board and the term loan B was written down to 18% of cost from 55% Q/Q.
     We are revising our fiscal 2019 NII/share estimate to $0.82 from $0.88 and our fiscal 2020 NII/share estimate to $0.61 from $0.67. " (2/11/2019)
  • 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. " (1/15/2019)

Has Prospect Capital been receiving favorable news coverage?

News headlines about PSEC stock have been trending neutral recently, according to InfoTrie Sentiment. The research firm identifies negative and positive news 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 nearest to five being the most favorable. Prospect Capital earned a news impact score of 0.2 on InfoTrie's scale. They also assigned news headlines about the financial services provider a news buzz of 3.0 out of 10, indicating that recent news coverage is unlikely to have an impact on the stock's share price in the immediate future.

Who are some of Prospect Capital's key competitors?

What other stocks do shareholders of Prospect Capital own?

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 LSV Asset Management (1.54%), Van ECK Associates Corp (0.66%), Legal & General Group Plc (0.46%), Mckinley Capital Management LLC Delaware (0.23%), California Public Employees Retirement System (0.20%) and Camelot Portfolios LLC (0.18%). 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?

PSEC stock was sold by a variety of institutional investors in the last quarter, including Two Sigma Investments LP, Two Sigma Advisers LP, Bank of Montreal Can, Quinn Opportunity Partners LLC, Susquehanna Fundamental Investments LLC, Private Advisor Group LLC, GSA Capital Partners LLP and Advisors Asset Management Inc.. View Insider Buying and Selling for Prospect Capital.

Which institutional investors are buying Prospect Capital stock?

PSEC stock was bought by a variety of institutional investors in the last quarter, including LSV Asset Management, Legal & General Group Plc, PVG Asset Management Corp, Mirae Asset Global Investments Co. Ltd., HRT Financial LLC, Van ECK Associates Corp, Concorde Asset Management LLC and Alpha Windward 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, Scottrade, Fidelity and Charles Schwab.

What is Prospect Capital's stock price today?

One share of PSEC stock can currently be purchased for approximately $6.61.

How big of a company is Prospect Capital?

Prospect Capital has a market capitalization of $2.42 billion and generates $607.01 million in revenue each year. The financial services provider earns $299.86 million in net income (profit) each year or $0.79 on an earnings per share basis.

What is Prospect Capital's official website?

The official website for Prospect Capital is http://www.prospectstreet.com.

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)

Community Ranking:  1.8 out of 5 (star)
Outperform Votes:  226 (Vote Outperform)
Underperform Votes:  397 (Vote Underperform)
Total Votes:  623
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.
This page was last updated on 3/24/2019 by MarketBeat.com Staff

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