Of the five analysts covering Prospect Capital stock, one has recommended a “strong sell,” one has recommended a “sell,” and three have rated it a “hold.”
For a business development company such as Prospect Capital (PSEC), the total number of originations plays a vital role in determining its investment objectives.
Prospect Capital (PSEC) has made first lien, senior, and secured debt a priority in terms of originations because this will help it to hedge downside risk.
Prospect Capital has a PE (price-to-earnings ratio) of 8.61x on a next-12-month basis compared to its peer average of 8.41x, implying Prospect’s higher valuation.
Prospect Capital (PSEC) is registered as a business development company (or BDC), which means that if it pays 90% of its profits in dividends, it won’t have to pay any taxes.
Prospect Capital (PSEC) is expected to focus on developing new product lines and maintaining leverage in a bid to garner risk-adjusted returns on investments.
Ares Capital Corporation (ARCC) saw a significant increase in its portfolio investments at fair value from $8.8 billion in 3Q16 to $11.5 billion in 3Q17. This trend reflects a substantial YoY rise.
Ares Capital (ARCC) reported an increase in its base management fees from $34.0 million in 3Q16 to $44.0 million in 3Q17, which reflects the rise in the average size of its portfolio.
In 3Q17, Ares Capital (ARCC) reported interest income from investments of $238.0 million compared to $200.0 million in 3Q16. This trend reflects an increase in the average size of its portfolio.
Prospect Capital (PSEC) is analyzed by five Wall Street analysts in November 2017. Of these analysts, one has rated the stock a “sell” and another one has given a “strong sell” rating.
Prospect Capital (PSEC) has a price-to-book ratio of 0.60x on a next-12-month or NTM basis. The average of price-to-book ratio on an NTM basis for the company’s peers is 0.80x.
The components of Prospect Capital’s (PSEC) total operating expenses are base management fees, income incentive fees, directors’ fees, audit, compliance, and tax-related fees, allocation costs…
As of September 30, Prospect Capital (PSEC) reported total investments amounting to $5.6 billion (fair value), a marginal fall from its total investments balance as of June 30.
Prospect Capital (PSEC) witnessed a marginal fall in its total originations in fiscal 1Q18 compared to fiscal 4Q17. In fiscal 1Q18, originations were as follows.
Prospect Capital Corporation (PSEC) released its earnings report for fiscal 1Q18 on November 8. The company failed to meet the projections Wall Street analysts had set for earnings per share or EPS and revenues.
Analysts have given a one-year price target of $6.88 per share on Prospect Capital stock, which reflects a marginal rise of 0.29% from its current price.
Prospect Capital’s (PSEC) total investments at fair value in fiscal 4Q17 stood at $5.8 billion, reflecting a marginal fall from $6.0 billion in fiscal 3Q17.
Of the 14 analysts currently covering Ares Capital Corporation (ARCC), four analysts rated the stock as a “buy,” six analysts gave “strong buy” ratings, and the remaining four analysts gave “hold” ratings.
In fiscal 3Q17, Prospect Capital’s total value of investments stood at $6.0 billion in 125 companies, compared to $5.9 billion in fiscal 2Q17 in 123 companies.
Analysts’ ratings for Ares Capital Ares Capital’s (ARCC) analyst ratings have improved over the past few months due to rising earnings and originations. So far in February 2017, twelve of the 17 analysts covering the company have rated it as a “buy” or a “strong buy.” Five analysts rated it as a “hold.” Since January 2017, Ares […]
Analysts’ ratings for Prospect Of the eight analysts covering Prospect Capital (PSEC), two rated it a “buy” or “strong buy” in January 2017. Three analysts, or ~37.5%, rated it a “hold.” One analyst rated Prospect an “underperform” and two analysts rated the company a “sell.” Prospect’s mean target price is $8.05 per share, implying a fall of 7.9% […]
Fiscal 2Q17 net exits Prospect Capital (PSEC) stock has risen 16% over the past three months and 16% over the past year. The company is currently trading near its 52-week high. The company saw net exits of $175.5 million in fiscal 2Q17, with higher exits from first-lien holdings. It saw lower leverage mainly due to higher exits, […]
In fiscal 3Q17, Apollo Investment (AINV) repurchased 2.3 million shares at a weighted average price per share of $5.90 for a total cost of $13.6 million.
Apollo Investment’s (AINV) realized and unrealized losses stood at $25 million in fiscal 3Q17, compared to realized gains of $1.6 million in fiscal 2Q16.
Prospect Capital (PSEC) stock rose 3.0% over the past three months and 20.0% over the past year. The company is currently trading 5.0% below its 52-week high.
In this series, we’ll look at Prospect Capital’s expected performance, deployments, portfolio strategy, yields, balance sheet strength, dividends, and valuations.
Apollo Investment’s (AINV) realized and unrealized gains stood at $1.6 million in fiscal 2Q17 compared to realized losses of $42.6 million in fiscal 1Q16.
Apollo Investment (AINV) posted earnings per share of $0.18 in fiscal 2Q17, compared to analyst estimates of $0.17. In this series, we’ll study AINV’s performance, yields, capital deployment, portfolio, dividends, and valuations.
Closed-end funds raise funds via either leverage or stock offerings. Companies tend to keep their leverages in check in the wake of expected rate hikes.
The ability of closed-end funds to transfer rises in fund costs amid high competition will determine whether net interest margins will improve over the next few quarters.
Prospect Capital (PSEC) reported fiscal 1Q17 EPS of $0.22—lower than the analyst estimates of $0.24. PSEC saw lower earnings on lower investment income.
Prospect Capital’s (PSEC) stock has fallen ~3% in the past quarter, and it has risen ~11% in the past year. The company is currently trading 7% lower than its 52-week high.
BlackRock Capital Investment (BKCC) is expected to report EPS (earnings per share) of $0.25 in the September quarter, which would mean 6% growth to $1.03 EPS for fiscal 2016.
Ares Capital (ARCC) has consistently increased its exposure to second lien senior secured debt. However, in the June quarter, second lien debt comprised only 24% of its new commitments.
Prospect Capital (PSEC) made portfolio investments of $294 million in the June quarter, a substantial rise from its investment of $23 million in the March quarter.
Closed-end asset managers (PSP) are expected to see higher interest costs on their leverage positions if there is a substantial hike by the Federal Reserve by the end of 2016. Portfolio yields are expected to remain stable, as the demand for quality borrowers is high among lenders.
In a bid to improve its liquidity, Apollo Investment decided to reduce its dividend to $0.15 compared to $0.20 in fiscal 4Q16 and fiscal 1Q16. This implies a dividend yield of 10%, which is line with other major closed-ended funds.
