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Prospect Capital Corporation (PSEC)

- NASDAQ
  • Thu, Aug. 27, 7:16 AM
    • FQ4 net investment income of $89.5M or $0.25 per share vs. $84.1M and $0.25 one year ago. Dividends were $0.25. For the year ended June 2015, NII of $362.7M or $1.03 per share vs. $357.2M and $1.19 a  year earlier. Dividends were $1.19.
    • FQ4 increase in net assets from operations of $94.8M or $0.26 per share vs. $71.7M and $0.21 one year ago.
    • Net asset value of $10.31 per share up one penny from last quarter.
    • Conference call at 11 ET
    • Previously: Prospect Capital NII in-line, misses on total investment income (Aug. 26)
    • PSEC no trades premarket, but was higher by 3% after hours to $7.25.
    | Thu, Aug. 27, 7:16 AM | 3 Comments
  • Wed, Aug. 26, 4:57 PM
    • Prospect Capital (NASDAQ:PSEC): FQ4 NII of $0.25 in-line.
    • Total investment income of $198.83M (+8.7% Y/Y) misses by $5M.
    • Press Release
    | Wed, Aug. 26, 4:57 PM | 42 Comments
  • Tue, Aug. 25, 5:35 PM
  • Wed, May 6, 4:54 PM
    • Q1 net investment income of $87.4M or $0.24 per share vs. $91.3M and $0.26 in Q4. Dividend is $0.25.
    • "Our evolving origination mix has increased our percentage of recurring income with 96.7% of total investment income from interest income in the March 2015 quarter versus 82.2% in the March 2014 quarter."
    • Net increase in net assets from operations of $81.5M or $0.23 per share vs. $86M and $0.24 in Q4.
    • Net asset value per share of $10.30 slips from $10.35 in Q4.
    • Conference call tomorrow at 11 ET
    • PSEC +2.7% after hours
    | Wed, May 6, 4:54 PM | 16 Comments
  • Wed, May 6, 4:38 PM
    • Prospect Capital (NASDAQ:PSEC): FQ3 NII of $0.24 misses by $0.02.
    • Total investment income of $191.35M (+0.5% Y/Y) misses by $10.16M.
    • Press Release
    | Wed, May 6, 4:38 PM | 23 Comments
  • Wed, Feb. 4, 4:28 PM
    • Q4 net investment income of $91.3M or $0.26 per share vs. $92.2M and $0.32 one year ago.
    • Net increase in net assets from operations of $86M or $0.24 per share vs. $85.4M and $0.30 one year ago.
    • Net asset value per share of $10.35 down $0.12 from Q3.
    • "The investment performance of our CLO business has significantly exceeded our underwriting expectations," says the company, noting a trailing 12-month default rate of 0.06% vs. the broadly syndicated market's rate of 3.24%. Four CLOs were sold in Q4, for an average cash realized IRR of 15.3%. Company doesn't anticipate any significant sales in the near future, and is more likely a buyer at these prices.
    • Asset concentration in energy stands at 4.5%.
    • Previously: Prospect Capital misses by $0.01, misses on total investment income (Feb. 4)
    • Conference call tomorrow at 11 ET
    • PSEC +0.5% after hours
    | Wed, Feb. 4, 4:28 PM | 26 Comments
  • Wed, Feb. 4, 4:12 PM
    • Prospect Capital (NASDAQ:PSEC): Q4 NII of $0.26 misses by $0.01.
    • Total investment income of $198.88M (+11.7% Y/Y) misses by $2.18M.
    • Press Release
    | Wed, Feb. 4, 4:12 PM | 11 Comments
  • Nov. 6, 2014, 4:51 PM
    • Prospect (NASDAQ:PSEC) hopes to "unlock value" by spinning off certain "pure play" business strategies to shareholders. Those to be spun are strategies which have grown faster than the company's overall growth rate over the past few years, and that need something less constraining than a BDC structure to continue that growth.
    • Initial focus will be on three separate companies consisting of portions of Prospect's CLO structured credit, online lending, and real estate businesses. The goal is to complete the spinoffs in early 2015.
    • Turning to Q3 operations, NII of $94.5M or $0.28 per share vs. $82.3M and $0.32 one year ago. NII rose and NII per share fell Y/Y thanks to non-recurring dividend and prepayment income in the year-ago period. Dividend is roughly $0.33.
    • Net increase in net assets from operations of $84.1M or $0.24 per share vs. $79.9M and $0.31 one year ago.
    • Net asset value per share of $10.47 vs. $10.56 at the end of Q2.
    • Shares +2.6% after-hours
    • Conference call tomorrow at 11 ET
    • Previously: Prospect Capital NII in-line, misses on revenue
    | Nov. 6, 2014, 4:51 PM | 27 Comments
  • Nov. 6, 2014, 4:37 PM
    • Prospect Capital (NASDAQ:PSEC): FQ1 NII of $0.28 in-line.
    • Revenue of $202.02M (+25.5% Y/Y) misses by $1.51M.
    • Press Release
    | Nov. 6, 2014, 4:37 PM | Comment!
  • Aug. 26, 2014, 11:48 AM
    • Noting this quarter's earnings report contained no usual announcement of future distributions, one caller asks whether a dividend cut is in the cards (the company has previously announced payouts of about $0.11 per month for the rest of the year).
    • Another analyst notes there have been several consecutive quarters now when NII didn't match the dividend, and by his calculations, the portfolio yield (now at 12.1%, down from 12.5% the previous quarter) would need to rise 100 basis points for NII to rise to the level of the payout. Will a return of capital be necessary to fund the dividend? Management responds that it wants to fund the dividend out of income, and earlier in the call noted - without giving numbers - that the company still has spillover income to help fund payouts.
    • Also noted by management as ways to boost income would be higher leverage, cutting costs, and finding deals with higher yields.
    • Previously: Prospect Capital results hurt by slow origination activity
    • Down more than 5% earlier, PSEC has been bouncing through the call, now off 2.7%
    | Aug. 26, 2014, 11:48 AM | 10 Comments
  • Aug. 25, 2014, 5:15 PM
    • FQ4 net investment income of $84.1M or $0.25 per share is well south of expectations for $0.32 and stands against $98.5M and $0.31 one year ago. Originations slipped to $444M in FQ4 from $1.3B a quarter previous.
    • The quarterly dividend is roughly $0.33 per share.
    • The debt-to-equity ratio of 72.9% is up from 67.9% at the end of last quarter and 55.7% a year ago. Annualized yield of portfolio of 12.1% slides 40 basis points from the March quarter.
    • Net asset value of $10.56 per share slips from $10.68 at end of March quarter. Today's closing stock price was $10.98.
    • Conference call at 11 ET
    • Previously: Prospect Capital misses by $0.07, misses on revenue
    • PSEC -1.9% AH
    | Aug. 25, 2014, 5:15 PM | 14 Comments
  • Aug. 25, 2014, 5:08 PM
    • Prospect Capital (NASDAQ:PSEC): FQ4 EPS of $0.25 misses by $0.07.
    • Revenue of $182.84M (+9.8% Y/Y) misses by $30.9M.
    • Shares -0.09% AH.
    • Press Release
    | Aug. 25, 2014, 5:08 PM | 15 Comments
  • Aug. 24, 2014, 5:35 PM
  • May 6, 2014, 4:55 PM
    • Net increase in net assets from operations of $82.1M or $0.26 per share vs. $44.4M and $0.20 per share one year ago.
    • Net investment income of $98.5M or $0.31 per share vs. $59.6M and $0.26 a year ago. Quarterly dividend is in the area of $0.33.
    • Net asset value per share of $10.68 off a nickel from the end of Q4 after payment of dividend.
    • Debt-to-equity ratio of 67.9% up from 48% at the end of Q4. "Our objective is to grow net investment income per share in the coming quarters by focusing on matched-book funding to finance disciplined and accretive originations across our diversified lines of business."
    • Q1 investment highlights: Enters the aircraft leasing sector with $92.6M investment in Echelon; enters the "peer-to-peer" online direct lending industry with roughly a $40M investment; launched a Prospect senior loan strategic initiative (PSEN) as a yield enhancement for business. Closing on PSEN expected in a few months.
    • CC at 11 ET
    • Source: Press Release
    • Previously: Prospect Capital misses by $0.01, misses on revenue
    • PSEC +0.1% AH
    | May 6, 2014, 4:55 PM | 9 Comments
  • May 6, 2014, 4:50 PM
    • Prospect Capital (PSEC): FQ3 NII of $0.31 misses by $0.01.
    • Total Investment Income of $190.32M (+58.3% Y/Y) misses by $1.78M.
    • Press Release
    | May 6, 2014, 4:50 PM | 6 Comments
  • Feb. 3, 2014, 4:23 PM
    • Net increase in net assets resulting from operations (NI) of $0.30 per share compares to $0.24 a year ago. Net investment income of $0.32 per share falls from $0.51 per share a year ago which included significant non-recurring dividend income.
    • Net asset value per share of $10.73 is up $0.01 from Q3.
    • Debt to equity ratio slips to 48% from 53.7% in Q3.
    • Portfolio investments of $607.66M during Q brings total to $4.976B and number of companies to 130. Annualized current yield os 12.9%.
    • FQ3 NII guidance of $0.28-$0.33 per share.
    • Press release, Q4 results
    • CC tomorrow at 11ET
    • PSEC flat AH
    | Feb. 3, 2014, 4:23 PM | 8 Comments
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Company Description
Prospect Capital Corporation is a closed-end investment company. It invests in senior and subordinated debt and equity of companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.
Sector: Financial
Country: United States