Blackrock Tcp Capital (NASDAQ:TCPC) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Blackrock Tcp Capital (NASDAQ:TCPC) issued its quarterly earnings data on Thursday, August 6th. The investment management company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02, Zacks reports. The business had revenue of $40.02 million for the quarter, compared to analyst estimates of $38.36 million. Blackrock Tcp Capital had a negative net margin of 61.27% and a positive return on equity of 13.85%.

Here are the key takeaways from Blackrock Tcp Capital’s conference call:

• The company completed a $523 million portfolio sale to a Pantheon-sponsored continuation vehicle, priced at 95% of year-end 2025 fair value, which is expected to reduce NAV by approximately 10.4% ($0.68 per share), including transaction expenses.
• Proceeds and portfolio repayments materially strengthened the balance sheet, reducing pro forma net leverage to approximately 0.4x, unfunded commitments below $40 million, and providing roughly $395 million of liquidity and more than $300 million of potential investment capacity.
• The board began a strategic review with Keefe, Bruyette & Woods that may consider reinvesting, share repurchases, returning capital, strategic combinations, or other corporate transactions; management provided no timetable or preferred outcome.
• Second-quarter NAV declined 2.1% to $6.58 per share, driven by markdowns and realized losses involving Pluralsight, PVHC, Zilliant, AutoAlert, and Become, although net investment income was $0.21 per share on an adjusted basis versus a $0.17 dividend.
• Portfolio credit trends improved, with non-accruals declining to 1.6% of fair value from 2.8% in the prior quarter, while $111.6 million of repayments in Q2 and additional post-quarter-end repayments—including expected full repayment of the $69 million Domo investment—reduced concentration and supported portfolio repositioning.

Blackrock Tcp Capital Stock Performance

NASDAQ TCPC opened at $4.01 on Monday. The company has a current ratio of 33.70, a quick ratio of 33.70 and a debt-to-equity ratio of 1.65. The firm’s fifty day moving average price is $3.85 and its two-hundred day moving average price is $3.77. Blackrock Tcp Capital has a 1 year low of $3.08 and a 1 year high of $6.35. The firm has a market capitalization of $336.44 million, a P/E ratio of -3.13 and a beta of 0.98.

Blackrock Tcp Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 17.0%. The ex-dividend date is Wednesday, September 16th. Blackrock Tcp Capital’s payout ratio is presently -53.12%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Keefe, Bruyette & Woods raised Blackrock Tcp Capital from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $3.50 to $4.00 in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Friday, August 28th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $3.75.

About Blackrock Tcp Capital

BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a business development company that provides financing to middle-market companies, primarily in the United States. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.

Its investment portfolio is focused largely on senior secured loans and other forms of secured and unsecured debt, along with select equity investments. BlackRock TCP Capital works with companies across a range of industries and typically supports businesses that may require financing for acquisitions, recapitalizations, growth initiatives, refinancings, or other corporate purposes.

The company was established as TCP Capital Corp.