Prospect Capital Corporation (PSEC) To Go Ex-Dividend on November 25th

Prospect Capital Corporation (NASDAQ:PSEC) announced a monthly dividend on Wednesday, November 4th. Investors of record on Wednesday, November 25th will be paid a dividend of $0.0350 per share by the financial services provider on Monday, December 21st. This represents a $0.42 dividend on an annualized basis and a yield of 30.3%. The ex-dividend date is Wednesday, November 25th.

Prospect Capital has decreased its dividend payment by an average of 0.1% 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. Equities research analysts expect Prospect Capital to earn $0.35 per share next year, which means the company may not be able to cover its $0.42 annual dividend with an expected future payout ratio of 120.0%.

Prospect Capital Stock Performance

Shares of Prospect Capital stock opened at $1.39 on Friday. The business has a 50-day simple moving average of $1.91 and a 200 day simple moving average of $2.34. Prospect Capital has a one year low of $1.38 and a one year high of $3.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $739.34 million, a price-to-earnings ratio of -9.23 and a beta of 0.84.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. Prospect Capital had a return on equity of 13.19% and a net margin of 3.80%. The business had revenue of $151.74 million for the quarter, compared to analyst estimates of $163.14 million. On average, research analysts anticipate that Prospect Capital will post 0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PSEC has been the topic of a number of research reports. Wall Street Zen lowered Prospect Capital from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Zacks Research raised shares of Prospect Capital to a “hold” rating in a research report on Monday, October 5th. Finally, Weiss Ratings downgraded shares of Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 26th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Sell” and an average price target of $2.00.

Prospect Capital Company Profile

Prospect Capital Corporation (NASDAQ:PSEC) is a business development company that provides financing and investment capital to middle-market companies. The company primarily invests in privately held businesses through first-lien and second-lien loans, mezzanine debt, and other debt securities, while also making equity and equity-related investments in selected companies.

Prospect Capital invests across a range of industries and has additional exposure to areas such as real estate, structured credit, and financial services.