BlackRock TCP Capital (TCPC) Set to Announce Earnings on Wednesday

BlackRock TCP Capital (NASDAQ:TCPC) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect BlackRock TCP Capital to post earnings of $0.45 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Thursday, February 29th. The investment management company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). The company had revenue of $50.85 million for the quarter, compared to analyst estimates of $53.36 million. BlackRock TCP Capital had a return on equity of 14.59% and a net margin of 18.38%. On average, analysts expect BlackRock TCP Capital to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

BlackRock TCP Capital Stock Performance

TCPC opened at $10.16 on Tuesday. The firm has a market cap of $586.94 million, a P/E ratio of 15.39 and a beta of 1.43. BlackRock TCP Capital has a 52-week low of $9.61 and a 52-week high of $13.00. The company has a debt-to-equity ratio of 1.43, a quick ratio of 30.47 and a current ratio of 30.47. The business’s fifty day moving average is $10.38 and its 200-day moving average is $11.06.

BlackRock TCP Capital Cuts Dividend

The business also recently announced 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. This represents a $1.36 annualized dividend and a dividend yield of 13.39%. The ex-dividend date of this dividend was Wednesday, March 13th. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently 206.06%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a research note on Friday, March 1st. Wells Fargo & Company raised their price objective 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. Oppenheimer reaffirmed a “market perform” rating and issued a $11.00 price objective (down from $13.00) on shares of BlackRock TCP Capital in a research note on Wednesday, March 6th. Raymond James lowered BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, March 1st. Finally, Keefe, Bruyette & Woods reduced their price objective 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. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.25.

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.