Equities research analysts predict that BlackRock TCP Capital Corp (NASDAQ:TCPC) will post $0.40 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for BlackRock TCP Capital’s earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.39. BlackRock TCP Capital reported earnings per share of $0.38 in the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The company is expected to issue its next earnings report on Tuesday, November 6th.
On average, analysts expect that BlackRock TCP Capital will report full-year earnings of $1.57 per share for the current financial year, with EPS estimates ranging from $1.54 to $1.60. For the next financial year, analysts anticipate that the firm will post earnings of $1.61 per share, with EPS estimates ranging from $1.53 to $1.65. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for BlackRock TCP Capital.
BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Wednesday, August 8th. The investment management company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. BlackRock TCP Capital had a net margin of 32.55% and a return on equity of 11.22%. The company had revenue of $48.42 million during the quarter, compared to analysts’ expectations of $47.46 million.
Several brokerages have commented on TCPC. BidaskClub cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. National Securities reiterated a “buy” rating and issued a $19.00 target price on shares of BlackRock TCP Capital in a report on Monday, August 13th. JMP Securities decreased their target price on shares of BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a report on Tuesday, August 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $17.00 target price on shares of BlackRock TCP Capital in a report on Wednesday, August 8th. Finally, Zacks Investment Research cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $17.08.
Shares of TCPC opened at $14.21 on Friday. BlackRock TCP Capital has a one year low of $13.72 and a one year high of $16.71. The stock has a market capitalization of $851.52 million, a price-to-earnings ratio of 7.14, a PEG ratio of 1.84 and a beta of 0.78. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.93.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 10.13%. The ex-dividend date of this dividend is Thursday, September 13th. BlackRock TCP Capital’s dividend payout ratio is currently 72.36%.
Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. acquired a new stake in shares of BlackRock TCP Capital during the first quarter worth approximately $114,000. First Republic Investment Management Inc. acquired a new stake in shares of BlackRock TCP Capital during the second quarter worth approximately $145,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of BlackRock TCP Capital during the first quarter worth approximately $151,000. Financial Counselors Inc. acquired a new stake in shares of BlackRock TCP Capital during the second quarter worth approximately $201,000. Finally, Great West Life Assurance Co. Can acquired a new stake in shares of BlackRock TCP Capital during the first quarter worth approximately $222,000. Institutional investors and hedge funds own 51.71% of the company’s stock.
BlackRock TCP Capital Company Profile
TCP Capital Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It invests in the debt of middle-market companies, as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds.
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