THL Credit, Inc. (TCRD) Downgraded by TheStreet

TheStreet cut shares of THL Credit, Inc. (NASDAQ:TCRD) from a b- rating to a c+ rating in a research note released on Monday morning.

A number of other research analysts also recently commented on the company. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $10.50 price target on shares of THL Credit in a research note on Wednesday, August 16th. Deutsche Bank AG downgraded THL Credit from a buy rating to a hold rating and set a $10.50 price target for the company. in a research note on Tuesday, August 8th. National Securities reaffirmed a buy rating and issued a $12.00 price target on shares of THL Credit in a research note on Monday, August 7th. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $10.00 price target on shares of THL Credit in a research note on Friday, July 14th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. THL Credit currently has an average rating of Hold and a consensus price target of $11.00.

Shares of THL Credit (NASDAQ:TCRD) opened at 9.21 on Monday. THL Credit has a 52-week low of $8.75 and a 52-week high of $10.60. The stock has a 50 day moving average of $9.27 and a 200 day moving average of $9.74.

THL Credit (NASDAQ:TCRD) last posted its quarterly earnings results on Thursday, August 3rd. The investment management company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The business had revenue of $20.28 million during the quarter, compared to the consensus estimate of $20.35 million. THL Credit had a return on equity of 10.22% and a net margin of 29.81%. THL Credit’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Equities research analysts expect that THL Credit will post $1.14 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 11.73%. The ex-dividend date of this dividend was Thursday, September 14th. THL Credit’s dividend payout ratio is presently 145.95%.

A number of institutional investors have recently added to or reduced their stakes in the business. Confluence Investment Management LLC grew its position in THL Credit by 2.6% in the second quarter. Confluence Investment Management LLC now owns 1,076,343 shares of the investment management company’s stock valued at $10,710,000 after acquiring an additional 27,108 shares during the last quarter. UBS Group AG grew its position in THL Credit by 20.6% in the first quarter. UBS Group AG now owns 806,713 shares of the investment management company’s stock valued at $8,035,000 after acquiring an additional 137,939 shares during the last quarter. Van ECK Associates Corp grew its position in THL Credit by 12.6% in the second quarter. Van ECK Associates Corp now owns 271,385 shares of the investment management company’s stock valued at $2,700,000 after acquiring an additional 30,421 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its position in THL Credit by 9.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 231,686 shares of the investment management company’s stock valued at $2,305,000 after acquiring an additional 20,781 shares during the last quarter. Finally, BB&T Securities LLC grew its position in THL Credit by 19.7% in the second quarter. BB&T Securities LLC now owns 220,732 shares of the investment management company’s stock valued at $2,196,000 after acquiring an additional 36,265 shares during the last quarter. Hedge funds and other institutional investors own 45.59% of the company’s stock.

THL Credit Company Profile

THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of lower middle market companies.

Analyst Recommendations for THL Credit (NASDAQ:TCRD)

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