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

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

BlackRock TCP Capital Trading Down 1.3 %

TCPC traded down $0.12 during trading hours on Friday, reaching $9.01. 636,144 shares of the company’s stock traded hands, compared to its average volume of 447,898. The firm has a 50-day moving average price of $10.75 and a 200 day moving average price of $10.69. BlackRock TCP Capital has a 52-week low of $8.93 and a 52-week high of $12.77. The company has a quick ratio of 19.05, a current ratio of 19.05 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $771.17 million, a PE ratio of 25.74 and a beta of 1.49.

BlackRock TCP Capital Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on TCPC. StockNews.com downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Tuesday. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday. Oppenheimer decreased their price objective on 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, Keefe, Bruyette & Woods decreased their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.