Prospect Capital Corp Earnings Cheat Sheet: Beats Forecasts

Prospect Capital Corporation (NASDAQ:PSEC) reported net income above Wall Street’s expectations for the first quarter. Prospect Capital is engaged as a financial services company that primarily lends to and invests in middle market privately-held companies. It is a closed-end investment company.

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Prospect Capital Earnings Cheat Sheet for the First Quarter

Results: Net income for Prospect Capital Corporation rose to $39.9 million (37 cents per share) vs. $25.6 million (34 cents per share) in the same quarter a year earlier. This marks a rise of 56% from the year earlier quarter.

Actual vs. Wall St. Expectations: PSEC beat the mean analyst estimate of 26 cents per share.

Key Stats:

The company topped expectations last quarter after falling short of forecasts in the fourth quarter of the last fiscal year with net income of 31 cents versus a mean estimate of net income of 36 cents per share.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from 29 cents a share to 28 cents over the last ninety days. At $1.10 per share, the average estimate for the fiscal year has fallen from $1.15 ninety days ago.

Competitors to Watch: Main Street Capital Corp. (NYSE:MAIN), MCG Capital Corporation (NASDAQ:MCGC), American Capital Ltd. (NASDAQ:ACAS), Saratoga Investment Corp. (NYSE:SAR), Kohlberg Capital Corp. (NASDAQ:KCAP), Gladstone Capital Corp. (NASDAQ:GLAD), Gladstone Investment Corp. (NASDAQ:GAIN), MVC Capital, Inc. (NYSE:MVC), Ares Capital Corporation (NASDAQ:ARCC), and Equus Total Return, Inc. (NYSE:EQS).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)