Prospect Capital Co. (NASDAQ:PSEC) Declares $0.05 Monthly Dividend

Prospect Capital Co. (NASDAQ:PSEC) announced a monthly dividend on Tuesday, November 12th,Wall Street Journal reports. Stockholders of record on Friday, December 27th will be paid a dividend of 0.045 per share by the financial services provider on Wednesday, January 22nd. This represents a $0.54 annualized dividend and a dividend yield of 12.62%. The ex-dividend date is Friday, December 27th.

Prospect Capital has raised its dividend by an average of 13.6% per year over the last three years. Prospect Capital has a dividend payout ratio of 118.0% 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 Performance

NASDAQ:PSEC opened at $4.28 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $5.21 and a 200 day moving average price of $5.33. The firm has a market capitalization of $1.87 billion, a PE ratio of -16.46 and a beta of 1.00. Prospect Capital has a 12-month low of $4.15 and a 12-month high of $6.30.

Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $196.31 million during the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PSEC shares. StockNews.com downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company reduced their price target on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research report on Friday, August 30th.

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.