Equities analysts expect that THL Credit, Inc. (NASDAQ:TCRD) will report sales of $16.97 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for THL Credit’s earnings, with the lowest sales estimate coming in at $16.58 million and the highest estimate coming in at $17.36 million. THL Credit reported sales of $18.58 million during the same quarter last year, which would suggest a negative year over year growth rate of 8.7%. The firm is scheduled to report its next earnings results on Tuesday, March 5th.
According to Zacks, analysts expect that THL Credit will report full year sales of $68.64 million for the current year, with estimates ranging from $67.91 million to $69.37 million. For the next fiscal year, analysts expect that the firm will report sales of $71.53 million, with estimates ranging from $69.89 million to $73.17 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for THL Credit.
THL Credit (NASDAQ:TCRD) last announced its quarterly earnings data on Wednesday, November 7th. The investment management company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). THL Credit had a negative net margin of 8.89% and a positive return on equity of 11.15%. The firm had revenue of $16.08 million during the quarter, compared to analyst estimates of $16.63 million.
A number of equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of THL Credit from a “strong sell” rating to a “sell” rating in a report on Saturday, September 1st. BidaskClub upgraded shares of THL Credit from a “hold” rating to a “buy” rating in a report on Saturday, September 15th. Zacks Investment Research upgraded shares of THL Credit from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a report on Tuesday, August 14th. Finally, National Securities restated a “neutral” rating and issued a $10.00 price objective on shares of THL Credit in a report on Tuesday, August 14th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. THL Credit presently has a consensus rating of “Hold” and a consensus target price of $9.85.
A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its holdings in THL Credit by 17.9% in the first quarter. Legal & General Group Plc now owns 118,856 shares of the investment management company’s stock valued at $924,000 after purchasing an additional 18,060 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in THL Credit in the first quarter valued at $112,000. Personal Resources Investment & Strategic Management Inc. boosted its holdings in THL Credit by 4.8% in the second quarter. Personal Resources Investment & Strategic Management Inc. now owns 161,360 shares of the investment management company’s stock valued at $1,313,000 after purchasing an additional 7,383 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in THL Credit by 51.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 369,234 shares of the investment management company’s stock valued at $2,887,000 after purchasing an additional 125,000 shares during the last quarter. Finally, Fiera Capital Corp boosted its holdings in THL Credit by 2.5% in the second quarter. Fiera Capital Corp now owns 717,358 shares of the investment management company’s stock valued at $5,610,000 after purchasing an additional 17,235 shares during the last quarter. Hedge funds and other institutional investors own 40.16% of the company’s stock.
Shares of TCRD traded down $0.14 during midday trading on Friday, reaching $7.25. The stock had a trading volume of 269,351 shares, compared to its average volume of 128,192. THL Credit has a 1-year low of $7.17 and a 1-year high of $9.67. The firm has a market capitalization of $249.95 million, a price-to-earnings ratio of 5.99 and a beta of 1.07. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.43.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 14.90%. THL Credit’s payout ratio is 89.26%.
THL Credit Company Profile
THL Credit, Inc is a business development company specializing in direct and fund of fund investments. The fund seeks to invest in debt and equity securities of middle market companies. It seeks to invest in PIPES, growth, acquisition, market or product expansion, recapitalization, mature, and change of control transactions in both sponsored and unsponsored issuers.
See Also: Return on Investment (ROI)
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