Raymond James Financial upgraded shares of Triangle Capital (NYSE:TCAP) from an underperform rating to a market perform rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.
A number of other equities research analysts have also recently issued reports on the stock. National Securities reduced their target price on shares of Triangle Capital from $18.00 to $16.00 and set a neutral rating for the company in a research report on Tuesday, October 24th. Jefferies Group cut shares of Triangle Capital from a buy rating to a hold rating in a research report on Thursday, November 16th. Bank of America cut shares of Triangle Capital from a buy rating to an underperform rating in a research report on Thursday, November 2nd. Keefe, Bruyette & Woods set a $18.00 price objective on shares of Triangle Capital and gave the stock a hold rating in a research report on Thursday, October 5th. Finally, Hilliard Lyons raised shares of Triangle Capital from a neutral rating to a buy rating and set a $14.00 price objective for the company in a research report on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Triangle Capital currently has an average rating of Hold and an average target price of $16.00.
Shares of Triangle Capital (TCAP) opened at $10.16 on Thursday. The stock has a market cap of $485.05, a PE ratio of -11.42, a PEG ratio of 1.47 and a beta of 0.82. Triangle Capital has a 52-week low of $8.91 and a 52-week 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.
Triangle Capital (NYSE:TCAP) last announced its earnings results on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.05). The business had revenue of $29.88 million during the quarter, compared to the consensus estimate of $32.84 million. Triangle Capital had a negative net margin of 36.80% and a positive return on equity of 10.67%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS. sell-side analysts forecast that Triangle Capital will post 1.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, December 5th. This represents a $1.20 annualized dividend and a yield of 11.81%. Triangle Capital’s dividend payout ratio is -134.83%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. IHT Wealth Management LLC lifted its position in Triangle Capital by 11.4% during the second quarter. IHT Wealth Management LLC now owns 2,450 shares of the credit services provider’s stock worth $249,000 after purchasing an additional 250 shares during the period. Connors Investor Services Inc. lifted its position in Triangle Capital by 1.5% during the second quarter. Connors Investor Services Inc. now owns 116,606 shares of the credit services provider’s stock worth $2,055,000 after purchasing an additional 1,730 shares during the period. WFG Advisors LP bought a new stake in Triangle Capital during the second quarter worth about $101,000. Commonwealth Equity Services Inc lifted its position in Triangle Capital by 25.6% during the third quarter. Commonwealth Equity Services Inc now owns 33,642 shares of the credit services provider’s stock worth $480,000 after purchasing an additional 6,865 shares during the period. Finally, GSA Capital Partners LLP lifted its position in Triangle Capital by 28.3% during the second quarter. GSA Capital Partners LLP now owns 33,467 shares of the credit services provider’s stock worth $590,000 after purchasing an additional 7,373 shares during the period. 34.92% of the stock is owned by institutional investors and hedge funds.
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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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