Wall Street brokerages forecast that BlackRock TCP Capital Corp (NASDAQ:TCPC) will announce earnings of $0.40 per share for the current quarter, Zacks reports. Three analysts have provided estimates for BlackRock TCP Capital’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.43. BlackRock TCP Capital posted earnings per share of $0.50 during the same quarter last year, which would suggest a negative year-over-year growth rate of 20%. The firm is scheduled to report its next quarterly earnings report on Tuesday, February 26th.
According to Zacks, analysts expect that BlackRock TCP Capital will report full-year earnings of $1.60 per share for the current fiscal year, with EPS estimates ranging from $1.58 to $1.62. For the next year, analysts forecast that the company will report earnings of $1.64 per share, with EPS estimates ranging from $1.59 to $1.74. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for BlackRock TCP Capital.
BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Thursday, November 8th. The investment management company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. BlackRock TCP Capital had a return on equity of 11.56% and a net margin of 31.79%. The firm had revenue of $49.48 million during the quarter, compared to the consensus estimate of $48.06 million.
TCPC has been the topic of a number of research analyst reports. BidaskClub cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $17.00 target price on shares of BlackRock TCP Capital in a report on Wednesday, August 8th. National Securities reaffirmed a “buy” rating and issued a $19.00 price objective on shares of BlackRock TCP Capital in a research note on Monday, August 13th. JMP Securities reduced their price objective on BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating on the stock in a research note on Tuesday, August 28th. Finally, Wells Fargo & Co dropped their target price on BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, October 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $16.90.
In related news, COO Rajneesh Vig acquired 7,000 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were bought at an average cost of $13.92 per share, for a total transaction of $97,440.00. Following the purchase, the chief operating officer now owns 39,750 shares in the company, valued at approximately $553,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Howard Levkowitz acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were bought at an average price of $13.89 per share, for a total transaction of $69,450.00. Following the completion of the purchase, the chief executive officer now owns 119,144 shares in the company, valued at approximately $1,654,910.16. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 19,725 shares of company stock worth $275,564. Corporate insiders own 0.55% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of TCPC. Bank of Montreal Can purchased a new position in shares of BlackRock TCP Capital in the 2nd quarter worth about $1,418,000. TCW Group Inc. raised its position in BlackRock TCP Capital by 16.7% during the 2nd quarter. TCW Group Inc. now owns 35,000 shares of the investment management company’s stock valued at $506,000 after purchasing an additional 5,000 shares during the last quarter. D.A. Davidson & CO. raised its position in BlackRock TCP Capital by 25.2% during the 2nd quarter. D.A. Davidson & CO. now owns 228,430 shares of the investment management company’s stock valued at $3,301,000 after purchasing an additional 46,027 shares during the last quarter. Financial Counselors Inc. bought a new position in BlackRock TCP Capital during the 2nd quarter valued at approximately $201,000. Finally, Cliffwater LLC raised its position in shares of BlackRock TCP Capital by 1.3% in the 2nd quarter. Cliffwater LLC now owns 288,395 shares of the investment management company’s stock worth $4,167,000 after acquiring an additional 3,790 shares in the last quarter. Hedge funds and other institutional investors own 45.58% of the company’s stock.
Shares of BlackRock TCP Capital stock traded down $0.20 on Thursday, reaching $14.14. 510,261 shares of the company were exchanged, compared to its average volume of 250,743. BlackRock TCP Capital has a one year low of $13.71 and a one year high of $15.90. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.90. The stock has a market cap of $843.04 million, a P/E ratio of 7.11, a P/E/G ratio of 1.80 and a beta of 0.70.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, December 14th. This represents a $1.44 dividend on an annualized basis and a yield of 10.18%. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently 72.36%.
BlackRock TCP Capital Company Profile
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.
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