Royal Bank Of Canada Issues Pessimistic Forecast for Palmer Square Capital BDC (NYSE:PSBD) Stock Price
by Tristan Rich · The Markets DailyPalmer Square Capital BDC (NYSE:PSBD – Get Free Report) had its target price dropped by Royal Bank Of Canada from $13.00 to $12.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 9.39% from the company’s current price.
Separately, UBS Group lowered their target price on shares of Palmer Square Capital BDC from $13.50 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.75.
View Our Latest Analysis on Palmer Square Capital BDC
Palmer Square Capital BDC Price Performance
Shares of PSBD stock opened at $10.97 on Thursday. The stock’s fifty day simple moving average is $11.59 and its 200 day simple moving average is $12.30. The firm has a market cap of $342.26 million, a price-to-earnings ratio of -99.73 and a beta of 0.78. Palmer Square Capital BDC has a one year low of $10.10 and a one year high of $15.62.
Palmer Square Capital BDC (NYSE:PSBD – Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of ($0.31) million for the quarter, compared to analyst estimates of $30.11 million. Palmer Square Capital BDC had a positive return on equity of 10.82% and a negative net margin of 2.55%. On average, research analysts anticipate that Palmer Square Capital BDC will post 1.96 earnings per share for the current year.
Hedge Funds Weigh In On Palmer Square Capital BDC
Institutional investors and hedge funds have recently bought and sold shares of the business. Prime Capital Investment Advisors LLC grew its holdings in shares of Palmer Square Capital BDC by 6.1% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 26,000 shares of the company’s stock worth $317,000 after purchasing an additional 1,500 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Palmer Square Capital BDC by 2.0% in the third quarter. Millennium Management LLC now owns 134,249 shares of the company’s stock valued at $1,647,000 after buying an additional 2,638 shares during the last quarter. Confluence Investment Management LLC raised its holdings in shares of Palmer Square Capital BDC by 18.7% in the third quarter. Confluence Investment Management LLC now owns 25,763 shares of the company’s stock valued at $316,000 after buying an additional 4,065 shares during the last quarter. Evolution Wealth Management Inc. acquired a new position in Palmer Square Capital BDC during the 3rd quarter worth about $71,000. Finally, Harbour Investments Inc. acquired a new position in Palmer Square Capital BDC during the 4th quarter worth about $85,000. Institutional investors and hedge funds own 6.52% of the company’s stock.
Palmer Square Capital BDC Company Profile
Palmer Square Capital BDC Inc (NYSE: PSBD) is a closed-end, externally managed business development company that provides customized financing solutions to middle-market companies in the United States. The firm offers a broad range of debt and equity products—including first-lien and second-lien senior secured loans, unitranche financings, mezzanine debt and equity co-investments—to support corporate acquisitions, refinancings, growth initiatives and balance sheet restructurings.
PSBD primarily targets established privately owned and sponsored businesses across diverse industries such as healthcare, business services, industrials and consumer products.