Brokerages Set BlackRock TCP Capital Corp. (NASDAQ:TCPC) Price Target at $10.67

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have been given an average recommendation of “Hold” by the five brokerages that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $10.67.

Several brokerages have commented on TCPC. JMP Securities reiterated a “market perform” rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Keefe, Bruyette & Woods reduced their target price on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a report on Friday, March 22nd. Raymond James cut BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, March 1st. Oppenheimer reduced their price objective on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Finally, StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Tuesday.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Register Financial Advisors LLC bought a new stake in BlackRock TCP Capital in the 1st quarter valued at $26,000. Future Financial Wealth Managment LLC bought a new stake in shares of BlackRock TCP Capital in the first quarter valued at about $31,000. Morton Brown Family Wealth LLC bought a new position in shares of BlackRock TCP Capital during the fourth quarter worth about $32,000. Cape Investment Advisory Inc. acquired a new stake in BlackRock TCP Capital in the 4th quarter valued at approximately $74,000. Finally, Tucker Asset Management LLC bought a new stake in BlackRock TCP Capital in the 4th quarter valued at approximately $74,000.

BlackRock TCP Capital Stock Down 0.9 %

NASDAQ:TCPC opened at $10.66 on Wednesday. The company has a market cap of $912.39 million, a price-to-earnings ratio of 30.46 and a beta of 1.47. The company has a debt-to-equity ratio of 1.37, a quick ratio of 19.05 and a current ratio of 19.05. The stock’s fifty day moving average price is $10.70 and its two-hundred day moving average price is $10.93. BlackRock TCP Capital has a 52-week low of $9.90 and a 52-week high of $13.00.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $55.73 million for the quarter, compared to analysts’ expectations of $50.99 million. BlackRock TCP Capital had a return on equity of 13.95% and a net margin of 9.69%. During the same quarter last year, the business earned $0.44 earnings per share. On average, analysts anticipate that BlackRock TCP Capital will post 1.71 EPS for the current year.

BlackRock TCP Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, June 14th. This represents a $1.36 annualized dividend and a yield of 12.76%. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently 388.58%.

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.