Prospect Capital Co. (PSEC) To Go Ex-Dividend on May 29th

Prospect Capital Co. (NASDAQ:PSEC) declared a monthly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Wednesday, May 29th will be given a dividend of 0.06 per share by the financial services provider on Tuesday, June 18th. This represents a $0.72 dividend on an annualized basis and a yield of 13.19%. The ex-dividend date of this dividend is Wednesday, May 29th.

Prospect Capital has raised its dividend payment by an average of 13.6% annually over the last three years. Prospect Capital has a dividend payout ratio of 98.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Prospect Capital to earn $0.72 per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of 100.0%.

Prospect Capital Trading Up 0.2 %

Shares of NASDAQ PSEC traded up $0.01 during mid-day trading on Friday, reaching $5.46. 1,515,443 shares of the company’s stock were exchanged, compared to its average volume of 2,040,125. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -27.30 and a beta of 1.00. Prospect Capital has a 52-week low of $5.03 and a 52-week high of $6.69. The company’s 50-day moving average is $5.42 and its 200-day moving average is $5.67. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.07 and a current ratio of 1.07.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $210.94 million during the quarter, compared to analyst estimates of $226.14 million. Prospect Capital had a negative net margin of 1.47% and a positive return on equity of 13.48%. Analysts expect that Prospect Capital will post 0.82 EPS for the current fiscal year.

Insider Transactions at Prospect Capital

In other news, CFO Dask Kristin Lea Van bought 5,000 shares of Prospect Capital stock in a transaction on Monday, March 11th. The shares were bought at an average cost of $5.44 per share, for a total transaction of $27,200.00. Following the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at $54,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 26.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PSEC shares. Wells Fargo & Company boosted their price objective on Prospect Capital from $5.50 to $5.75 and gave the stock an “underweight” rating in a research report on Monday, January 29th. StockNews.com raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, April 26th.

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.