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Prospect Capital Corporation Message Board

  • jdsomers jdsomers Aug 25, 2014 5:41 PM Flag

    Don't be fooled into selling in thin after hours market!

    The so-called earnings miss is probably not a big deal. It was driven by less loan originations in this particular quarter; part, if not all, of that was probably related to delays concerning the SEC inquiry about accounting treatment (which, of course, is now resolved). Wait to listen to the conference call. The dividend is well covered. The release even pointed out the excess NII they have on hand from previous earnings, and the advance declaration of several months dividends confirms this. Also the press release indicated that PSEC expects to be able to replace its current revolving loan with a new one at lower cost. This should provide a nice improvement to the bottom line in the future as this is much bigger company now (by assets) and the lower cost of borrowing could be a big factor boosting future earnings.

    Sentiment: Hold

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