Somewhat Positive Press Coverage Somewhat Unlikely to Impact Prospect Capital Corporation (PSEC) Share Price
Media headlines about Prospect Capital Corporation (NASDAQ:PSEC) have trended somewhat positive recently, according to Accern Sentiment. The research firm identifies positive and negative press coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Prospect Capital Corporation earned a daily sentiment score of 0.09 on Accern’s scale. Accern also assigned headlines about the financial services provider an impact score of 46.5258355351651 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media headlines that may have impacted Accern’s rankings:
- Prospect Capital: Time To Walk Away – Seeking Alpha (seekingalpha.com)
- AgaMatrix Completes $32 Million Financing Transaction with Prospect Capital – Markets Insider (markets.businessinsider.com)
- Investors see Lower earnings in the future Prospect Capital … – Street Observer (press release) (streetobserver.com)
- My Prospect Capital Investment Strategy Explained (seekingalpha.com)
Prospect Capital Corporation (NASDAQ:PSEC) opened at 6.63 on Wednesday. Prospect Capital Corporation has a 12-month low of $6.54 and a 12-month high of $9.58. The firm’s 50-day moving average is $6.79 and its 200 day moving average is $8.01.
Prospect Capital Corporation (NASDAQ:PSEC) last issued its quarterly earnings results on Monday, August 28th. The financial services provider reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). Prospect Capital Corporation had a net margin of 36.08% and a return on equity of 8.98%. The business had revenue of $166.70 million during the quarter, compared to analyst estimates of $177.21 million. During the same period in the previous year, the company posted $0.26 earnings per share. Prospect Capital Corporation’s revenue was down 13.6% compared to the same quarter last year. Equities analysts forecast that Prospect Capital Corporation will post $0.78 EPS for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.72 annualized dividend and a yield of 10.86%. Prospect Capital Corporation’s payout ratio is presently 102.86%.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Prospect Capital Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub upgraded shares of Prospect Capital Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. National Securities dropped their target price on shares of Prospect Capital Corporation from $7.00 to $6.00 and set a “sell” rating for the company in a report on Wednesday, August 30th. Raymond James Financial, Inc. upgraded shares of Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 30th. Finally, UBS AG upgraded shares of Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 30th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $7.17.
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In related news, CFO Brian H. Oswald acquired 50,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were purchased at an average price of $6.73 per share, for a total transaction of $336,500.00. Following the acquisition, the chief financial officer now owns 493,373 shares in the company, valued at $3,320,400.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.10% of the stock is currently owned by insiders.
Prospect Capital Corporation Company Profile
Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
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