Zacks Investment Research lowered shares of Tcg Bdc (NASDAQ:CGBD) from a buy rating to a hold rating in a report released on Tuesday.
According to Zacks, “TCG BDC, Inc. is an externally managed specialty finance company. It focused on providing flexible financing solutions to middle market companies primarily located in the United States. TCG BDC, Inc. is based in New York, United States. “
Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of Tcg Bdc from a buy rating to a hold rating in a research report on Wednesday, May 2nd. Citigroup initiated coverage on shares of Tcg Bdc in a research report on Wednesday, March 28th. They set a buy rating on the stock. Finally, JPMorgan Chase lowered shares of Tcg Bdc from an overweight rating to a neutral rating and set a $19.00 target price on the stock. in a research report on Wednesday, April 11th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Tcg Bdc presently has a consensus rating of Buy and an average target price of $19.30.
Tcg Bdc opened at $17.98 on Tuesday, Marketbeat reports. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.76 and a current ratio of 0.76. Tcg Bdc has a 1-year low of $16.76 and a 1-year high of $20.30. The stock has a market capitalization of $1.13 billion and a P/E ratio of 10.53.
Tcg Bdc (NASDAQ:CGBD) last posted its quarterly earnings data on Friday, May 4th. The company reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. Tcg Bdc had a net margin of 49.96% and a return on equity of 8.73%. The company had revenue of $47.48 million for the quarter, compared to analyst estimates of $48.08 million. During the same period in the prior year, the company posted $0.01 EPS. sell-side analysts expect that Tcg Bdc will post 1.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 17th. Stockholders of record on Friday, June 29th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.23%. The ex-dividend date is Thursday, June 28th. Tcg Bdc’s dividend payout ratio (DPR) is presently 85.06%.
A number of hedge funds have recently modified their holdings of the stock. Mckinley Capital Management LLC Delaware increased its holdings in Tcg Bdc by 9.3% during the fourth quarter. Mckinley Capital Management LLC Delaware now owns 69,371 shares of the company’s stock valued at $1,390,000 after buying an additional 5,912 shares during the period. Goldman Sachs Group Inc. increased its holdings in Tcg Bdc by 64.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 20,212 shares of the company’s stock valued at $405,000 after buying an additional 7,922 shares during the period. Kayne Anderson Capital Advisors LP increased its holdings in Tcg Bdc by 34.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 31,100 shares of the company’s stock valued at $556,000 after buying an additional 8,000 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its holdings in Tcg Bdc by 5.2% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 203,093 shares of the company’s stock valued at $4,069,000 after buying an additional 10,085 shares during the period. Finally, Advisory Research Inc. increased its holdings in Tcg Bdc by 5.1% during the fourth quarter. Advisory Research Inc. now owns 210,513 shares of the company’s stock valued at $4,219,000 after buying an additional 10,172 shares during the period. 15.17% of the stock is currently owned by institutional investors.
About Tcg Bdc
TCG BDC, Inc, formerly Carlyle GMS Finance, Inc, is a managed and non-diversified closed-end investment company. The Company is focused on lending to middle market companies. The Company’s investment objective is to generate current income and capital appreciation primarily through debt investments in the United States and middle market companies.
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