Prospect Capital Earnings: Fifth Straight Quarter of Double-Digit Growth
Prospect Capital Corporation (NASDAQ:PSEC) reported its results for the third 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 Third Quarter
Results: Net income for Prospect Capital Corporation rose to $50.2 million (44 cents per share) vs. $33.8 million (38 cents per share) in the same quarter a year earlier. This marks a rise of 48.7% from the year-earlier quarter.
The company has now seen net income rise in three straight quarters. In the second quarter, net income rose more than twofold and in the first quarter, the figure rose 56%.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the fourth quarter has moved up from 27 cents a share to 29 cents over the last ninety days. Over the past three months, the average estimate for the fiscal year has climbed from $1.10 per to share to $1.43.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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