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

Prospect Capital Corporation (NASDAQ:PSEC) announced a monthly dividend on Friday, February 6th. Stockholders of record on Friday, March 27th will be paid a dividend of 0.045 per share by the financial services provider on Tuesday, April 21st. This represents a c) dividend on an annualized basis and a dividend yield of 21.3%. The ex-dividend date of this dividend is Friday, March 27th.

Prospect Capital has decreased its dividend payment by an average of 0.0%annually over the last three years. Prospect Capital has a dividend 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 Stock Down 1.2%

NASDAQ:PSEC opened at $2.54 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.74. The firm’s 50-day moving average price is $2.77 and its 200-day moving average price is $2.71. The company has a market capitalization of $1.24 billion, a PE ratio of -3.14 and a beta of 0.87. Prospect Capital has a 1-year low of $2.45 and a 1-year high of $4.28.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Monday, February 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. The company had revenue of $176.00 million during the quarter, compared to analysts’ expectations of $156.34 million. Prospect Capital had a negative net margin of 39.56% and a positive return on equity of 11.91%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings restated a “sell (d)” rating on shares of Prospect Capital in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Prospect Capital currently has a consensus rating of “Sell” and an average target price of $2.50.

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.