Equities research analysts expect Triangle Capital Co. (NYSE:TCAP) to announce sales of $28.71 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Triangle Capital’s earnings. The highest sales estimate is $29.45 million and the lowest is $28.06 million. Triangle Capital posted sales of $31.19 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 8%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, February 28th.
On average, analysts expect that Triangle Capital will report full-year sales of $28.71 million for the current fiscal year, with estimates ranging from $119.36 million to $120.74 million. For the next fiscal year, analysts anticipate that the company will post sales of $118.31 million per share, with estimates ranging from $115.20 million to $122.07 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Triangle Capital.
A number of analysts have commented on TCAP shares. National Securities decreased their target price on Triangle Capital from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 24th. Jefferies Group downgraded Triangle Capital from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. Bank of America downgraded Triangle Capital from a “buy” rating to an “underperform” rating in a research report on Thursday, November 2nd. TheStreet downgraded Triangle Capital from a “c” rating to a “d+” rating in a research report on Friday, November 17th. Finally, Hilliard Lyons upgraded Triangle Capital from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $16.00.
Shares of Triangle Capital (TCAP) opened at $10.96 on Thursday. The company has a current ratio of 56.98, a quick ratio of 56.98 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $523.24, a price-to-earnings ratio of -12.18, a price-to-earnings-growth ratio of 1.63 and a beta of 0.87. Triangle Capital has a 12-month low of $8.91 and a 12-month high of $20.35.
A number of institutional investors have recently added to or reduced their stakes in TCAP. Wasatch Advisors Inc. acquired a new position in Triangle Capital in the second quarter valued at $235,000. WFG Advisors LP acquired a new position in Triangle Capital in the second quarter valued at $101,000. Gs Investments Inc. acquired a new position in Triangle Capital in the second quarter valued at $338,000. Shell Asset Management Co. acquired a new position in Triangle Capital in the third quarter valued at $1,941,000. Finally, State of New Jersey Common Pension Fund D increased its stake 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 valued at $20,706,000 after purchasing an additional 1,050,000 shares during the last quarter. Hedge funds and other institutional investors own 34.73% of the company’s stock.
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About Triangle Capital
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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