BlackRock TCP Capital (NASDAQ:TCPC) Posts Earnings Results, Hits Estimates

BlackRock TCP Capital (NASDAQ:TCPC) posted its quarterly earnings data on Wednesday. The investment management company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45, Zacks reports. BlackRock TCP Capital had a return on equity of 14.59% and a net margin of 18.38%. The firm had revenue of $55.73 million for the quarter, compared to analysts’ expectations of $50.99 million. During the same period in the previous year, the firm earned $0.44 EPS.

BlackRock TCP Capital Price Performance

Shares of TCPC traded down $0.02 during mid-day trading on Thursday, hitting $10.40. 326,670 shares of the stock were exchanged, compared to its average volume of 476,238. The company has a market cap of $600.81 million, a PE ratio of 15.91 and a beta of 1.42. BlackRock TCP Capital has a 52-week low of $9.80 and a 52-week high of $13.00. The firm has a 50-day moving average of $10.34 and a two-hundred day moving average of $11.06. The company has a debt-to-equity ratio of 1.43, a quick ratio of 30.47 and a current ratio of 30.47.

BlackRock TCP Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.34 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.36 annualized dividend and a dividend yield of 13.08%. BlackRock TCP Capital’s dividend payout ratio (DPR) is 206.06%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Raymond James downgraded BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, March 1st. JMP Securities reissued a “market perform” rating on shares of BlackRock TCP Capital in a research note on Friday, March 1st. Wells Fargo & Company lifted their target price on BlackRock TCP Capital from $11.00 to $11.50 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods decreased their target price on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Finally, Oppenheimer decreased their target price on BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, BlackRock TCP Capital currently has a consensus rating of “Hold” and a consensus price target of $11.00.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.