BMO Capital Markets Trims Prospect Capital Corporation (PSEC) Target Price to $6.00

Prospect Capital Corporation (NASDAQ:PSEC) had its target price lowered by BMO Capital Markets from $7.00 to $6.00 in a research note issued to investors on Friday. The brokerage currently has a market perform rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the company. TheStreet lowered Prospect Capital Corporation from a b- rating to a c+ rating in a research note on Wednesday, September 27th. Zacks Investment Research raised Prospect Capital Corporation from a strong sell rating to a hold rating in a research report on Wednesday, November 1st. BidaskClub lowered Prospect Capital Corporation from a buy rating to a hold rating in a research report on Monday, July 17th. Raymond James Financial, Inc. raised Prospect Capital Corporation from an underperform rating to a market perform rating in a research report on Wednesday, August 30th. Finally, UBS AG raised Prospect Capital Corporation from an underperform rating to a market perform rating in a research report on Wednesday, August 30th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of Hold and a consensus price target of $6.17.

Prospect Capital Corporation (PSEC) traded up $0.15 on Friday, reaching $6.17. The company had a trading volume of 2,584,235 shares, compared to its average volume of 2,712,867. Prospect Capital Corporation has a 1 year low of $5.51 and a 1 year high of $9.58. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.78. The firm has a market cap of $2,170.00, a price-to-earnings ratio of 7.36 and a beta of 0.51.

Prospect Capital Corporation (NASDAQ:PSEC) last posted its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). Prospect Capital Corporation had a return on equity of 8.63% and a net margin of 27.00%. The firm had revenue of $158.58 million for the quarter, compared to analyst estimates of $161.00 million. During the same period in the previous year, the company posted $0.22 EPS. Prospect Capital Corporation’s revenue was down 11.8% on a year-over-year basis. research analysts anticipate that Prospect Capital Corporation will post 0.74 earnings per share for the current year.

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The business also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be given a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 11.68%. The ex-dividend date is Tuesday, January 30th. Prospect Capital Corporation’s dividend payout ratio is currently 141.18%.

In related news, CFO Brian H. Oswald purchased 50,000 shares of Prospect Capital Corporation stock in a transaction on Friday, September 1st. The shares were bought at an average price of $6.73 per share, with a total value of $336,500.00. Following the transaction, the chief financial officer now directly owns 493,373 shares of the company’s stock, valued at $3,320,400.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.10% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atria Investments LLC purchased a new position in shares of Prospect Capital Corporation in the 2nd quarter valued at about $104,000. Trexquant Investment LP purchased a new position in shares of Prospect Capital Corporation in the 3rd quarter valued at about $108,000. Regal Investment Advisors LLC increased its holdings in shares of Prospect Capital Corporation by 19.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 2,720 shares during the last quarter. Nwam LLC increased its holdings in shares of Prospect Capital Corporation by 19.1% in the 2nd quarter. Nwam LLC now owns 16,825 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Prospect Capital Corporation in the 2nd quarter valued at about $142,000. Institutional investors and hedge funds own 15.07% of the company’s stock.

Prospect Capital Corporation 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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