Prospect Capital Corporation (NASDAQ: PSEC)

Transcription

1 Analyst Rating About Prospect Capital Corporation Prospect Capital Corporation (Prospect Capital) is a financial services company that lends to and invests in middle market privately-held companies. The Company is a closed-end investment company. The Company invests primarily in senior and subordinated debt and equity of companies in need of capital for acquisitions, divestitures, growth, development, project financing and recapitalization. The Company s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It focuses on making investments in private companies, and many of its investments are in energy companies. The Company s investment adviser is Prospect Capital Management LLC. On December 2, 2009, the Company completed the acquisition of Patriot Capital Funding, Inc. (Patriot), whereby Patriot merged with and into the Company. Overview Key Data Sector Financial Last Trade $8.79 Industry Asset Management Price Range (52 week) Contents Employees I Error Avg Volume (13 Week) 1,930,000 Shares Outstanding 109,000,000 Mkt Cap $960,890,000 Enterprise Value $1,350,000, Overview Book Value per Share $10.36 Dividend Yield #VALUE 2. Technical Data 3. Key Ratios 4. Earnings & Analyst 5.6. Financial Statements 7. Company Insiders Highlights & Recent Developments Prospect Capital is a closed-end investment company that lends to and invests in private and microcap public businesses. Presently the company pays an annual dividend of $1.22 a share for a hefty yield of around 14.7 percent. 8. About Bedford Fiscal fourth quarter net investment income for Prospect Capital Corporation rose to $30.2 million (31 cents per share) vs. $16.6 million (25 cents per share) in the same quarter a year earlier. This marks a rise of 86.6% from the year earlier quarter.

2 Technical Data Price Information 52 Week Low $ Week High $ Day Moving Average $ Day Moving Average $10.72 Average Daily Volume (13Wk) 1,930,000 Support / Resistance Type Value Confluence resist resist resist resist resist resist resist resist supp supp Technical Signals Indicator Signal Strength Direction Composite Indicator Trend Spotter Sell Minimum Weakest 7 Day Average Directional Indicator Buy Minimum Strongest 10-8 Day Moving Average Hilo Channel Hold Bullish Short-Term Indicators 20 Day Moving Average vs Price Buy Minimum Strongest Day MACD Oscillator Sell Minimum Weakening 20 Day Bollinger Bands Hold Bullish 40 Day Commodity Channel Index Hold Bullish Medium-Term Indicators 50 Day Moving Average vs Price Buy Minimum Strongest Day MACD Oscillator Sell Average Weakest 50 Day Parabolic Time/Price Buy Weak Strongest 60 Day Commodity Channel Index Hold Bullish Long-Term Indicators 100 Day Moving Average vs Price Sell Weak Weakest Day MACD Oscillator Sell Maximum Weakest

3 Key Statistics & Ratios Valuation Ratios P/E Ratio (TTM) Error Error Error P/E High - Last 5 Yrs. Error Error Error P/E Low - Last 5 Yrs. Error Error Error Beta Error Error Error Price to Sales (TTM) Error Error Error Price to Book (MRQ) Error Error Error Price to Tangible Book (MRQ) Error Error Error Price to Cash Flow (TTM) Error Error Error Price to Free Cash Flow (TTM) Error Error Error % Owned Institutions #VALUE #VALUE #VALUE Growth Rates Sales (MRQ) vs Qtr. 1 Yr. Ago #VALUE #VALUE #VALUE Sales (TTM) vs TTM 1 Yr. Ago #VALUE #VALUE #VALUE Sales - 5 Yr. Growth Rate #VALUE #VALUE #VALUE EPS (MRQ) vs Qtr. 1 Yr. Ago #VALUE #VALUE #VALUE EPS (TTM) vs TTM 1 Yr. Ago #VALUE #VALUE #VALUE EPS - 5 Yr. Growth Rate #VALUE #VALUE #VALUE Capital Spending - 5 Yr. Growth Rate Financial Strength Quick Ratio (MRQ) Error Error Error Current Ratio (MRQ) Error Error Error LT Debt to Equity (MRQ) Error Error Error Total Debt to Equity (MRQ) Error Error Error Interest Coverage (TTM) Error Error Error Profitability #VALUE #VALUE #VALUE Gross Margin (TTM) #VALUE #VALUE #VALUE Gross Margin - 5 Yr. Avg. #VALUE #VALUE #VALUE EBITD Margin (TTM) #VALUE #VALUE #VALUE EBITD - 5 Yr. Avg. #VALUE #VALUE #VALUE Operating Margin (TTM) #VALUE #VALUE #VALUE Operating Margin - 5 Yr. Avg. #VALUE #VALUE #VALUE Pre-Tax Margin (TTM) #VALUE #VALUE #VALUE Pre-Tax Margin - 5 Yr. Avg. #VALUE #VALUE #VALUE Net Profit Margin (TTM) #VALUE #VALUE #VALUE Net Profit Margin - 5 Yr. Avg. #VALUE #VALUE #VALUE Effective Tax Rate (TTM) #VALUE #VALUE #VALUE Effective Tax Rate - 5 Yr. Avg. #VALUE #VALUE #VALUE Management Effectiveness Return On Assets (TTM) #VALUE #VALUE #VALUE Return On Assets - 5 Yr. Avg. #VALUE #VALUE #VALUE Return On Investment (TTM) #VALUE #VALUE #VALUE Return On Investment - 5 Yr Avg #VALUE #VALUE #VALUE Return On Equity (TTM) #VALUE #VALUE #VALUE Return On Equity - 5 Yr. Avg. #VALUE #VALUE #VALUE Efficiency Revenue/Employee (TTM) Error Error Error Net Income/Employee (TTM) Error Error Error Receivable Turnover (TTM) Error Error Error Inventory Turnover (TTM) Error Error Error Asset Turnover (TTM) Error Error Error Dividends Dividend Yield #VALUE #VALUE #VALUE Dividend Yield - 5 Year Avg. #VALUE #VALUE #VALUE Dividend 5 Year Growth Rate #VALUE #VALUE #VALUE Payout Ratio (TTM) #VALUE #VALUE #VALUE

4 Earnings & Analyst Data EPS Estimates # of Ests. Mean Est. High Est. Low Est. Quarter Ending Sep-11 7 $0.27 $0.30 $0.24 Quarter Ending Dec-11 7 $0.28 $0.32 $0.26 Year Ending Jun-11 7 $1.15 $1.17 $1.13 Year Ending Jun-12 7 $1.12 $1.27 $1.00 EPS Historical Surprises Estimates Actual Difference Surprise % Quarter Ending Jun-11 $0.36 $0.31 $ % Quarter Ending Mar-11 $0.25 $0.27 $ % Quarter Ending Dec-10 $0.28 $0.23 $ % Quarter Ending Sep-10 $0.27 $0.28 $ % Quarter Ending Jun-10 $0.28 $0.25 $ % Analyst Recommendation Summary Current 1 Month Ago 2 Months Ago Strong Buy (1.0) Moderate Buy (2.0) Hold (3.0) Moderate Sell (4.0) Strong Sell (5.0) Mean Recommendation Current Consensus Hold 3 Months Ago Dividend Payments Dividend Amount Ex-dividend Date Payable Date Oct Nov Sep Oct Aug Sep Jul Aug Jun Jul May Jun Apr May Apr May Mar Apr Mar Apr Feb Mar Feb Mar Jan Feb Jan Feb Dec Jan Dec Jan Nov Dec Nov Dec Oct Nov Oct Nov Sep Oct-10 Analyst Upgrades & Downgrades 0-Jan Date Research Firm Action From To 2-Dec-10 UBS Initiated -- Neutral 21-Dec-09 DA Davidson Downgrade Buy Neutral 9-Dec-09 Ladenburg Thalmann Initiated -- Neutral 11-Nov-09 Wells Fargo Downgrade Outperform Market Perform 13-Oct-09 Stifel Nicolaus Initiated -- Hold 17-Sep-09 Morgan Keegan Downgrade Outperform Mkt Perform Price Target Summary Mean Target: $9.67 Median Target: $9.50 High Target: $12.50 Low Target: $8.25 No. of Brokers: 6

5 Financial Statements Figures in Millions of US Dollars (exept per share values) Balance Sheet Annual Quarterly Period Ending 30-Jun Jun Jun-09 Assets Cash And Cash Equivalents Short Term Investments -- Net Receivables Inventory -- Other Current Assets -- Total Current Assets -- Long Term Investments 1, ,463 1, Property Plant and Equipment -- Goodwill -- Intangible Assets -- Accumulated Amortization -- Other Assets Deferred Long Term Asset Charges Total Assets 1, ,549 1,339 1, Liabilities Accounts Payable Short/Current Long Term Debt -- Other Current Liabilities -- Total Current Liabilities -- Long Term Debt Other Liabilities Deferred Long Term Liability Charges -- Total Liabilities Stockholders Equity Misc Stocks Options Warrants -- Redeemable Preferred Stock -- Preferred Stock -- Common Stock Retained Earnings (22) (10) 24 (22) (21) (18) (12) Treasury Stock -- Capital Surplus 1, , Other Stockholder Equity (61) (85) (13) (61) (58) (67) (80) Total Stockholder Equity 1, , Net Tangible Assets (Book Value) 1, ,

6 Income Statement Annual Quarterly Period Ending 30-Jun Jun Jun Jun Mar Dec Sep-10 Total Revenue Cost of Revenue Gross Income Research and Development -- Selling General and Administrative Non Recurring Others -- Total Operating Expenses Operating Income or Loss Total Other Income(Expenses) Net 24 (39) (24) (3) Earnings Before Interest And Taxes Interest Expense Income Tax Expense -- Net Income From Continuing Ops Other Items not from Continuing Operations -- Net Income attributable to the Company Preferred Stock And Other Adjustments -- Net Income Applicable To Common Shares Cash Flow Statement Annual Quarterly Period Ending 30-Jun Jun Jun Jun Mar Dec Sep-10 Net Income Operating Activities Depreciation (18) (15) (2) (10) (3) (1) (3) Adjustments To Net Income (42) (7) (13) (13) (8) Changes In Accounts Receivables (13) (5) 3 1 (5) (7) (2) Changes In Liabilities (30) 33 3 (3) Changes In Inventories -- Changes In Other Operating Activities (648) 15 (135) (204) (241) (179) (25) Total Cash Flow From Operating Activities (582) 55 (74) (213) (192) (164) (12) Investing Activities Capital Expenditures -- Investments -- Other Cash flows from Investing Activities -- (107) Total Cash Flows From Investing Activities -- (107) Financing Activities Dividends Paid (91) (83) (43) (26) (24) (22) (19) Sale Purchase of Stock (0) Net Borrowings 293 (30) (54) Other Cash Flows from Financing Activities -- Total Cash Flows From Financing Activities Effect Of Exchange Rate Changes -- Other Liabilities

7 Company Insiders Company Officers Name Age Since Current Position Basic Compensation Options Options Value John Barry Chairman of the Board, Chief Executive Officer M. Grier Eliasek 38 President, Chief Operating Officer, Director Brian Oswald Chief Financial Officer, Chief Compliance Officer, Treasurer, Corporate Secretary Andrew Cooper Independent Director William Gremp Independent Director Eugene Stark Independent Director Insider Transactions Trading Date Name Title Type Shares Traded Price 6 Sep 2011 BARRY MATTHEW C Unknown Buy 2500 $ Sep 2011 ELIASEK M GRIER Chief Operating Officer Buy $ Aug 2011 ELIASEK M GRIER Chief Operating Officer Buy 300 $ Aug 2011 BARRY JOHN F III Chief Executive Officer Buy $ Aug 2011 BARRY JOHN F III Chief Executive Officer Buy $ Aug 2011 ELIASEK M GRIER Chief Operating Officer Buy $ Aug 2011 OSWALD BRIAN H Chief Financial Officer Buy 7000 $ Aug 2011 BARRY MATTHEW C Unknown Buy 18 $ Aug 2011 BARRY JOHN F III Chief Executive Officer Buy $ Jul 2011 BARRY JOHN F III Chief Executive Officer Buy $ Jul 2011 BARRY JOHN F III Chief Executive Officer Sell $ Jul 2011 BARRY MATTHEW C Unknown Buy 16 $ Jul 2011 BARRY JOHN F III Chief Executive Officer Buy $ Jul 2011 BARRY JOHN F III Chief Executive Officer Buy $ Jun 2011 BARRY MATTHEW C Unknown Buy 16 $ May 2011 BARRY MATTHEW C Unknown Buy 14 $ May 2011 OSWALD BRIAN H Chief Financial Officer Buy 7000 $ May 2011 STARK EUGENE S Director Buy 1000 $ Apr 2011 BARRY MATTHEW C Unknown Buy 13 $ Mar 2011 BARRY MATTHEW C Unknown Buy 13 $12.14

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