Prospect Capital Corporation (NASDAQ:PSEC): Price Target Lowered to $11.00, Hits 52 week Low


Dallas, Texas 05/014/2014 (FINANCIALSTRENDS) –Prospect Capital Corporation (NASDAQ:PSEC)’s price target was lowered to $11 by equities research analysts at Keefe; Bruyette & Woods form their previously announced target of $11.75. Among other analysts who also commented on this stock include, analysts at Guggenheim who upgraded the stock to a “buy” rating from the previously announced “neutral” rating. They also raised price target for the stock to $12 from previously maintained target of $11.50.

Six analysts have given a “buy” rating for the stock of Prospect Capital Corporation (NASDAQ:PSEC), two analysts maintain a “hold” rating and one analysts maintains a “sell” rating for the stock. On a consensus, the stock has a “buy” rating with an average price target of $11.82 which suggests potential upside of nearly 20.5% from its previous closing of $9.81.

Stock Update:

The stock of Prospect Capital yesterday closed at $9.81, losing 2.39% from its previous close. The stock traded with significant volume of 24.96 million shares, almost five times the usual 30 day average trading volume of 4.99 million shares. During the trade, the stock also hit a fresh 52 week low of $9.17. Its 52 week high is of $11.62. The stock has declined by nearly 12.5% year to date.

3Q14 Earnings Highlights:

Prospect Capital Corporation (NASDAQ:PSEC) recently released its 3Q14 earnings on May 6, 2014. The company reported 3Q14 earnings of $0.31 per share, considerably up from its earnings of $0.26 per share reported during 3Q13. However, it missed the analysts’ estimate of $0.32 per share. Analysts are expecting that the company will post earnings of $1.28 per share for full year FY14.

Company Brief:

A financial services company, Prospect Capital Corporation specializes in emerging growth, middle market, mature, later stage, buyouts, turnaround, cash flow term loans, mezzanine finance and bridge transactions alongside real estate investments with major focus on multi-family residential real estate assets.

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