Prospect Capital Corporation (NASDAQ:PSEC) Declares $0.05 Monthly Dividend

Prospect Capital Corporation (NASDAQ:PSEC) announced a monthly dividend on Thursday, November 6th. Investors of record on Wednesday, January 28th will be given a dividend of 0.045 per share by the financial services provider on Wednesday, February 18th. This represents a c) dividend on an annualized basis and a yield of 20.4%. The ex-dividend date is Wednesday, January 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 payout ratio of 114.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Prospect Capital Price Performance

NASDAQ:PSEC traded up $0.09 during trading hours on Friday, hitting $2.64. The stock had a trading volume of 1,708,442 shares, compared to its average volume of 3,262,838. The company has a 50 day simple moving average of $2.74 and a two-hundred day simple moving average of $3.09. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -1.97 and a beta of 0.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.16 and a quick ratio of 1.16. Prospect Capital has a one year low of $2.52 and a one year high of $4.88.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The company had revenue of $119.44 million for the quarter, compared to the consensus estimate of $169.53 million. Prospect Capital had a positive return on equity of 12.14% and a negative net margin of 69.68%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PSEC. Wells Fargo & Company cut their price objective on Prospect Capital from $3.00 to $2.50 and set an “underweight” rating for the company in a report on Thursday, August 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Prospect Capital in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, Prospect Capital has a consensus rating of “Sell” and an average price target of $2.50.

Prospect Capital Company Profile

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.