Prospect Capital Corporation (NASDAQ:PSEC) Announces $0.04 Monthly Dividend

Prospect Capital Corporation (NASDAQ:PSEC) announced a monthly dividend on Thursday, August 20th. Stockholders of record on Monday, September 28th will be paid a dividend of 0.035 per share by the financial services provider on Wednesday, October 21st. This represents a c) dividend on an annualized basis and a dividend yield of 18.4%. The ex-dividend date is Monday, September 28th.

Prospect Capital has decreased its dividend payment by an average of 0.0%per year over the last three years. Prospect Capital has a dividend payout ratio of 89.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Prospect Capital Stock Performance

Shares of NASDAQ PSEC opened at $2.28 on Friday. The stock has a 50 day moving average of $2.24 and a 200-day moving average of $2.47. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.14 billion, a P/E ratio of -6.16 and a beta of 0.79. Prospect Capital has a 12 month low of $2.11 and a 12 month high of $3.13.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Thursday, August 20th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $155.76 million during the quarter, compared to analysts’ expectations of $149.80 million. Prospect Capital had a negative net margin of 10.42% and a positive return on equity of 12.03%.

Analyst Ratings Changes

A number of brokerages have recently commented on PSEC. Wells Fargo & Company cut their price target on shares of Prospect Capital from $2.50 to $2.00 and set an “underweight” rating on the stock in a report on Tuesday, May 12th. Wall Street Zen upgraded Prospect Capital from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Finally, Weiss Ratings upgraded Prospect Capital from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell” and a consensus price target of $2.00.

About Prospect Capital

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.