The trading price of Prospect Capital Corporation (NASDAQ:PSEC) floating higher at last check on Wednesday, July 21, closing at $8.30, 1.59% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $7.9299 and $8.20. The company’s P/E ratio in the trailing 12-month period was 6.79, while its 5Y monthly beta was 0.95. In examining the 52-week price action we see that the stock hit a 52-week high of $9.25 and a 52-week low of $4.91. Over the past month, the stock has lost -2.97% in value.
Prospect Capital Corporation, whose market valuation is $3.16 billion at the time of this writing, is expected to release its quarterly earnings report Aug 24, 2021 – Aug 30, 2021. The dividend yield on the company stock is 8.81%, while its Forward Dividend ratio is 0.72. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.17 per share this quarter, however they have predicted annual earnings per share of $0.73 for 2021 and $0.7 for 2022. It means analysts are expecting annual earnings per share growth of 1.40% this year and -4.10% next year.
Analysts have forecast the company to bring in revenue of $165.03 million for the current quarter, with the likely lows of $165.03 million and highs of $165.03 million. The average estimate suggests sales will likely up by 13.60% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $640 million. The company’s revenue is forecast to grow by 2.60% over what it did in 2021.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Prospect Capital Corporation No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest PSEC has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned PSEC a recommendation rating is 2. Out of them, 0 rate it a Hold, while 0 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Prospect Capital Corporation (PSEC) as Underweight, while 2 advise Sell. Analysts have rated the stock Sell, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 1.36, which symbolizes a positive outlook. A quick review shows that PSEC’s price is currently -1.25% off the SMA20 and -2.29% off the SMA50. The RSI metric on the 14-day chart is currently showing 47.68, and weekly volatility stands at 2.50%. When measured over the past 30 days, the indicator reaches 2.40%. Prospect Capital Corporation (NASDAQ:PSEC)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 0.22. With analysts defining $6.00-$6.00 as the low and high price targets, we arrive at a consensus price target of $6.00 for the trailing 12-month period. The current price is about 27.71% off the estimated low and 27.71% off the forecast high, based on this estimate. Investors will be thrilled if PSEC’s share price rises to $6.00, which is the median consensus price. At that level, PSEC’s share price would be 27.71% above current price.
To see how Prospect Capital Corporation stock has been performing today in comparison to its peers in the industry, here are the numbers: PSEC stock’s performance was 1.59% at last check in today’s session, and 64.39% in the past year. Prospect Capital Corporation has a P/E ratio of 6.79. Also during today’s trading, the S&P 500 Index has surged 0.61%, while the Dow Jones Industrial also saw a positive session, up 0.71% today.
An evaluation of the daily trading volume of Prospect Capital Corporation (NASDAQ:PSEC) indicates that the 3-month average is 2.44 million. However, this figure has increased over the past 10 days to an average of 1.95 million.
Currently, records show that 387.00 million of the company’s shares remain outstanding. The insiders hold 27.94% of outstanding shares, whereas institutions hold 10.90%. The stats also highlight that short interest as of Apr 14, 2021, stood at 11.8 million shares, resulting in a short ratio of 5.01 at that time. From this, we can conclude that short interest is 3.05% of the company’s total outstanding shares. It is noteworthy that short shares in April were down slightly from the previous month’s figure, which was 13.04 million. However, since the stock’s price has seen 51.02% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.