Prospect Capital Corporation (PSEC) To Go Ex-Dividend on May 27th

Prospect Capital Corporation (NASDAQ:PSEC) declared a monthly dividend on Tuesday, May 5th. Shareholders of record on Wednesday, May 27th will be given a dividend of 0.035 per share by the financial services provider on Thursday, June 18th. This represents a c) annualized dividend and a yield of 18.4%. The ex-dividend date of this dividend is Wednesday, May 27th.

Prospect Capital has decreased its dividend payment by an average of 0.0%annually over the last three years. Prospect Capital has a 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 tumble.

Prospect Capital Price Performance

NASDAQ PSEC opened at $2.28 on Monday. The firm’s fifty day simple moving average is $2.57 and its two-hundred day simple moving average is $2.66. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.59. Prospect Capital has a 12-month low of $2.11 and a 12-month high of $3.50. The firm has a market capitalization of $1.14 billion, a P/E ratio of -6.16 and a beta of 0.82.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. Prospect Capital had a negative net margin of 10.42% and a positive return on equity of 12.03%. The business had revenue of $150.07 million for the quarter, compared to analyst estimates of $163.23 million.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PSEC. Wall Street Zen raised shares of Prospect Capital from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Prospect Capital in a report on Tuesday, April 21st. Finally, Wells Fargo & Company dropped their price objective 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. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, Prospect Capital presently has an average rating of “Sell” and a consensus target price of $2.00.

Prospect Capital Company Profile

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.