Equities researchers at Wunderlich assumed coverage on shares of Prospect Capital Corp. (NASDAQ:PSEC) in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $12.00 price target on the stock. Wunderlich’s target price suggests a potential upside of 8.01% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of Prospect Capital Corporation (PSEC) with a Hold rating and a $12 target. PSEC benefits from its size and its strong and flexible balance sheet, as well as from the intellectual capital housed at its external manager. We like the positive momentum at several of the opportunistic control investments, and believe that the company has demonstrated its ability to allocate capital to businesses that may be out of favor, but that have had good upside. We think the ATM equity issuance creates an overhang on the stock, but we believe that investors who chose to add to positions should participate in these offerings, which have historically signaled opportunistic portfolio expansion.”
Shares of Prospect Capital Corp. (NASDAQ:PSEC) opened at 11.11 on Thursday. Prospect Capital Corp. has a 1-year low of $10.05 and a 1-year high of $11.62. The stock has a 50-day moving average of $11.34 and a 200-day moving average of $11.03. The company has a market cap of $3.076 billion and a price-to-earnings ratio of 10.12.
Prospect Capital Corp. (NASDAQ:PSEC) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.33 by $0.01. During the same quarter in the prior year, the company posted $0.46 earnings per share. On average, analysts predict that Prospect Capital Corp. will post $1.26 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which is scheduled for Thursday, July 24th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.11 per share. This represents a $1.33 annualized dividend and a dividend yield of 11.93%. The ex-dividend date is Thursday, June 26th. This is a boost from Prospect Capital Corp.’s previous monthly dividend of $0.11.
PSEC has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Prospect Capital Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, November 27th. They now have a $10.80 price target on the stock. Separately, analysts at BMO Capital Markets initiated coverage on shares of Prospect Capital Corp. in a research note to investors on Tuesday, November 26th. They set an “outperform” rating and a $12.00 price target on the stock. Finally, analysts at National Securities initiated coverage on shares of Prospect Capital Corp. in a research note to investors on Monday, October 21st. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Prospect Capital Corp. presently has an average rating of “Hold” and a consensus price target of $11.76.
Prospect Capital Corporation (NASDAQ:PSEC), is a financial services company, which lends to and invests in middle market privately-held companies.
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