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

BlackRock TCP Capital (NASDAQ:TCPC) released its earnings results on Wednesday. The investment management company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42, Zacks reports. The firm had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.39 million. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. During the same period in the prior year, the company earned $0.48 EPS.

BlackRock TCP Capital Stock Performance

TCPC stock traded down $0.12 during midday trading on Friday, reaching $9.01. 636,144 shares of the company were exchanged, compared to its average volume of 447,898. The company has a debt-to-equity ratio of 1.37, a current ratio of 19.05 and a quick ratio of 19.05. The business has a 50-day moving average price of $10.75 and a two-hundred day moving average price of $10.69. BlackRock TCP Capital has a one year low of $8.93 and a one year high of $12.77. The firm has a market capitalization of $771.17 million, a price-to-earnings ratio of 25.74 and a beta of 1.49.

BlackRock TCP Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a yield of 15.09%. BlackRock TCP Capital’s dividend payout ratio (DPR) is 388.57%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TCPC shares. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday. LADENBURG THALM/SH SH cut shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday. Oppenheimer dropped their target price on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Finally, StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, BlackRock TCP Capital currently has a consensus rating of “Hold” and a consensus price target of $10.17.

About BlackRock TCP Capital

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.