Wall Street analysts expect that Triangle Capital Co. (NYSE:TCAP) will report $0.34 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Triangle Capital’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.36. Triangle Capital posted earnings per share of $0.42 in the same quarter last year, which indicates a negative year over year growth rate of 19%. The company is expected to issue its next quarterly earnings results on Wednesday, February 28th.
On average, analysts expect that Triangle Capital will report full-year earnings of $1.54 per share for the current year, with EPS estimates ranging from $1.49 to $1.67. For the next fiscal year, analysts anticipate that the company will post earnings of $1.38 per share, with EPS estimates ranging from $1.25 to $1.66. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover Triangle Capital.
Triangle Capital (NYSE:TCAP) last posted its quarterly earnings data on Wednesday, November 1st. The credit services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). Triangle Capital had a positive return on equity of 10.67% and a negative net margin of 36.80%. The business had revenue of $29.88 million for the quarter, compared to the consensus estimate of $32.84 million. During the same period in the previous year, the firm earned $0.41 EPS. The company’s revenue was up 9.0% on a year-over-year basis.
TCAP has been the topic of several research reports. Raymond James Financial reissued an “underperform” rating on shares of Triangle Capital in a research note on Tuesday, October 17th. National Securities dropped their price objective on shares of Triangle Capital from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 24th. Jefferies Group lowered shares of Triangle Capital from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Bank of America lowered shares of Triangle Capital from a “buy” rating to an “underperform” rating in a research note on Thursday, November 2nd. Finally, Keefe, Bruyette & Woods set a $18.00 price objective on shares of Triangle Capital and gave the stock a “hold” rating in a research note on Thursday, October 5th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.00.
A number of institutional investors have recently modified their holdings of TCAP. State of New Jersey Common Pension Fund D raised its holdings in Triangle Capital by 262.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 1,450,000 shares of the credit services provider’s stock worth $20,706,000 after buying an additional 1,050,000 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Triangle Capital by 36.4% in the third quarter. Wells Fargo & Company MN now owns 1,952,522 shares of the credit services provider’s stock worth $27,882,000 after buying an additional 521,430 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in shares of Triangle Capital during the third quarter valued at approximately $3,075,000. Muzinich & Co. Inc. raised its holdings in shares of Triangle Capital by 8.8% during the second quarter. Muzinich & Co. Inc. now owns 1,946,091 shares of the credit services provider’s stock valued at $34,290,000 after purchasing an additional 157,458 shares during the last quarter. Finally, BB&T Securities LLC raised its holdings in shares of Triangle Capital by 86.8% during the third quarter. BB&T Securities LLC now owns 293,689 shares of the credit services provider’s stock valued at $4,193,000 after purchasing an additional 136,508 shares during the last quarter. 35.15% of the stock is owned by institutional investors and hedge funds.
Triangle Capital (NYSE:TCAP) traded up $0.27 during trading hours on Wednesday, reaching $10.16. 606,125 shares of the company traded hands, compared to its average volume of 580,130. Triangle Capital has a 1-year low of $8.91 and a 1-year high of $20.35. The company has a debt-to-equity ratio of 0.87, a current ratio of 56.98 and a quick ratio of 56.98. The company has a market capitalization of $472.16, a price-to-earnings ratio of -11.42, a P/E/G ratio of 1.44 and a beta of 0.82.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $1.20 annualized dividend and a yield of 11.81%. Triangle Capital’s dividend payout ratio (DPR) is presently -134.83%.
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Triangle Capital Company Profile
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
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