Prospect Capital Earnings: Fifth Straight Quarter of Double-Digit Growth
Prospect Capital Corporation (NASDAQ:PSEC) reported higher profit for the fourth quarter as revenue showed growth. 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 Corporation Earnings Cheat Sheet
Results: Net income for Prospect Capital Corporation rose to $64.2 million (29 cents per share) vs. $30.2 million (28 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year-earlier quarter.
Revenue: Rose 82.1% to $102.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Prospect Capital Corporation fell short of the mean analyst estimate of 55 cents per share. It beat the average revenue estimate of $98.3 million.
The company fell short of estimates last quarter after beating the mark the quarter before with net income of 33 cents versus a mean estimate of net income of 29 cents per share.
Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the first quarter of the next fiscal year is 29 cents per share, up from 27 cents ninety days ago. The average estimate for the fiscal year is $1.43 per share, a rise from $1.10 ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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