Triangle Capital Corporation (NYSE:TCAP) Price Target Lowered to $12.00 at Robert W. Baird

Triangle Capital Corporation (NYSE:TCAP) had its price objective lowered by Robert W. Baird from $16.00 to $12.00 in a research note published on Friday, November 3rd. Robert W. Baird currently has an outperform rating on the credit services provider’s stock.

Other equities analysts have also issued research reports about the company. ValuEngine upgraded Triangle Capital Corporation from a hold rating to a buy rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded Triangle Capital Corporation from a sell rating to a hold rating in a research note on Wednesday, October 11th. National Securities dropped their price target on Triangle Capital Corporation from $18.00 to $16.00 and set a neutral rating on the stock in a research note on Tuesday, October 24th. JMP Securities lowered Triangle Capital Corporation from an outperform rating to a market perform rating in a research note on Wednesday, August 9th. Finally, Hilliard Lyons downgraded Triangle Capital Corporation from a buy rating to a neutral rating and decreased their target price for the stock from $19.00 to $15.50 in a report on Monday, August 7th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Triangle Capital Corporation currently has an average rating of Hold and a consensus target price of $16.57.

Triangle Capital Corporation (TCAP) traded down $0.01 during midday trading on Friday, hitting $9.62. The stock had a trading volume of 313,282 shares, compared to its average volume of 376,903. The company has a market cap of $459.27, a P/E ratio of 6.02, a P/E/G ratio of 1.24 and a beta of 0.91. Triangle Capital Corporation has a 52-week low of $8.91 and a 52-week high of $20.35. The company has a quick ratio of 56.98, a current ratio of 56.98 and a debt-to-equity ratio of 0.87.

Triangle Capital Corporation (NYSE:TCAP) last issued its quarterly earnings results on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). Triangle Capital Corporation had a positive return on equity of 10.67% and a negative net margin of 36.80%. The company had revenue of $29.88 million during the quarter, compared to the consensus estimate of $32.84 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. equities analysts expect that Triangle Capital Corporation will post 1.56 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 12.47%. The ex-dividend date of this dividend is Tuesday, December 5th. Triangle Capital Corporation’s dividend payout ratio (DPR) is presently -200.00%.

Several institutional investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D lifted its stake in Triangle Capital Corporation by 262.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 1,450,000 shares of the credit services provider’s stock worth $20,706,000 after acquiring an additional 1,050,000 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Triangle Capital Corporation by 36.4% during the 3rd quarter. Wells Fargo & Company MN now owns 1,952,522 shares of the credit services provider’s stock worth $27,882,000 after acquiring an additional 521,430 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in Triangle Capital Corporation during the 3rd quarter worth about $3,075,000. Novare Capital Management LLC acquired a new position in Triangle Capital Corporation during the 2nd quarter worth about $3,554,000. Finally, Muzinich & Co. Inc. lifted its stake in Triangle Capital Corporation by 8.8% during the 2nd quarter. Muzinich & Co. Inc. now owns 1,946,091 shares of the credit services provider’s stock worth $34,290,000 after acquiring an additional 157,458 shares in the last quarter. 33.84% of the stock is currently owned by institutional investors and hedge funds.

About Triangle Capital Corporation

Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.

Analyst Recommendations for Triangle Capital Corporation (NYSE:TCAP)

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