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) managed originations of $222 million, which was lower than the prior year’s number. Its exits and repayments stood at $258 million.
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 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.
Ares Capital Corporation (ARCC) posted its 2Q17 earnings report on August 2. ARCC reported its core earnings of $0.34 per share, missing the analysts’ estimate of $0.36 per share.
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.
Prospect Capital (PSEC) reported a decline in its net investment income in its fiscal 3Q17 earnings. Analysts expect PSEC’s fiscal 4Q17 EPS to reach $0.20, representing no change from fiscal 3Q17.
Ares Capital stock has risen ~11.7% over the past six months. The company saw a strong performance in 4Q16 on higher deployment, stable yields, and expense management.
Ares Capital has consistently enhanced its exposure to second lien debt in a bid to generate higher yields. In 4Q16, its second lien debt made up 33% of its new commitments.
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 […]
Stock performance Ares Capital (ARCC) stock has risen ~14% over the past six months and 37% over the past year due to improved operating performance. In 3Q16, the company saw higher deployments and yields, and lower expenses. The company declared a dividend of $0.38 per share in 3Q16, in line with that of 3Q15. With a dividend […]
Second-lien preference Ares Capital (ARCC) has consistently increased its exposure to investments in second-lien debt to garner higher yields. In 3Q16, second-lien debt made up 23% of its new commitments and exits made up 18%. Second-lien loans formed 32% of the company’s total portfolio, and first-lien senior secured loans fell to 25% from 29% in […]
Broad markets driving statistics Ares Capital’s (ARCC) portfolio valuation and total assets stood at $8.8 billion and $9.1 billion, respectively, on September 30, 2016. The company’s corporate borrowers posted last-12-month EBITDA (earnings before interest, tax, depreciation, and amortization) growth of ~7% due to adequate growth and repayment capability. In 3Q16, Ares Capital’s credit statistics fell, with non-accrual […]
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% […]
Generating strong yields Prospect Capital’s (PSEC) valuation gap has narrowed more than its industry peers’ and the broader market’s (SPX) (SPY), reflecting improved performance over the past few quarters. The company didn’t provide any further guidelines on possible spin-offs of profitable divisions in a bid to raise capital. If the stock rises, at least above the […]
Exits higher than origination In fiscal 2Q17, Prospect Capital (PSEC) made portfolio investments of $470 million, which is a substantial rise over the $347 million invested in fiscal 1Q17. These funds were deployed in new and multiple follow-on investments. The company saw higher net exits than it did in the previous quarter, in line with […]
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.
In this series, we’ll look at Prospect Capital’s expected performance, deployments, portfolio strategy, yields, balance sheet strength, dividends, and valuations.
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.
Ares Capital (ARCC) stock has risen ~1.6% over the past six months. The company saw a strong performance in 3Q16 on higher deployment, yields, and lower expenses.
In fiscal 4Q16, Prospect Capital (PSEC) made $294 million in investments, a substantial rise compared to its investments of $23 million in fiscal 3Q16.
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.
As of June 2015, Ares Capital’s (ARCC) stock declined by ~5% over the past 12 months. The company paid a dividend of $0.38 per share—at par with the year before.
