Brokerages forecast that BlackRock TCP Capital Corp (NASDAQ:TCPC) will report sales of $48.11 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for BlackRock TCP Capital’s earnings, with the highest sales estimate coming in at $49.64 million and the lowest estimate coming in at $45.61 million. BlackRock TCP Capital reported sales of $49.48 million during the same quarter last year, which indicates a negative year-over-year growth rate of 2.8%. The business is scheduled to report its next earnings results on Thursday, November 14th.
According to Zacks, analysts expect that BlackRock TCP Capital will report full year sales of $191.74 million for the current financial year, with estimates ranging from $185.00 million to $196.31 million. For the next year, analysts expect that the business will report sales of $197.02 million, with estimates ranging from $192.00 million to $203.74 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow BlackRock TCP Capital.
BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Thursday, August 8th. The investment management company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $48.18 million for the quarter, compared to the consensus estimate of $47.17 million. BlackRock TCP Capital had a net margin of 14.19% and a return on equity of 11.45%.
A number of research analysts have commented on the stock. National Securities reiterated a “buy” rating and set a $18.00 price target on shares of BlackRock TCP Capital in a research report on Monday, May 13th. BidaskClub upgraded shares of BlackRock TCP Capital from a “strong sell” rating to a “sell” rating in a research report on Friday, August 2nd. Oppenheimer set a $16.00 price target on shares of BlackRock TCP Capital and gave the company a “buy” rating in a research report on Friday, August 9th. TheStreet upgraded shares of BlackRock TCP Capital from a “c+” rating to a “b” rating in a research report on Tuesday, May 28th. Finally, Zacks Investment Research cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.30.
NASDAQ TCPC traded down $0.12 on Friday, reaching $13.48. 347,953 shares of the company’s stock traded hands, compared to its average volume of 363,540. BlackRock TCP Capital has a 12 month low of $12.52 and a 12 month high of $14.88. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.87 and a quick ratio of 2.87. The stock has a 50-day simple moving average of $13.92 and a 200 day simple moving average of $14.30. The stock has a market cap of $797.46 million, a PE ratio of 8.48, a P/E/G ratio of 2.82 and a beta of 0.70.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 10.68%. The ex-dividend date is Friday, September 13th. BlackRock TCP Capital’s dividend payout ratio is 90.57%.
Several institutional investors have recently modified their holdings of TCPC. Sandy Spring Bank bought a new stake in BlackRock TCP Capital in the second quarter valued at $29,000. Truvestments Capital LLC bought a new stake in BlackRock TCP Capital in the second quarter valued at $33,000. NEXT Financial Group Inc bought a new stake in BlackRock TCP Capital in the second quarter valued at $47,000. Steward Partners Investment Advisory LLC bought a new stake in BlackRock TCP Capital in the second quarter valued at $111,000. Finally, Stelac Advisory Services LLC bought a new stake in BlackRock TCP Capital in the second quarter valued at $130,000. Hedge funds and other institutional investors own 39.13% of the company’s stock.
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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