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

BlackRock TCP Capital (NASDAQ:TCPC) posted its earnings results on Wednesday. The investment management company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates 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 quarter in the previous year, the firm earned $0.48 earnings per share.

BlackRock TCP Capital Price Performance

Shares of NASDAQ:TCPC traded down $0.12 on Friday, reaching $9.01. 636,065 shares of the company were exchanged, compared to its average volume of 447,898. The company has a 50-day moving average of $10.79 and a 200-day moving average of $10.70. The company has a current ratio of 19.05, a quick ratio of 19.05 and a debt-to-equity ratio of 1.37. The firm has a market cap of $771.17 million, a price-to-earnings ratio of 27.26 and a beta of 1.49. BlackRock TCP Capital has a 1-year low of $8.93 and a 1-year high of $12.77.

BlackRock TCP Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 15.09%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 388.58%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Tuesday. Keefe, Bruyette & Woods decreased their price target on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Oppenheimer lowered 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 report on Thursday, May 2nd. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, BlackRock TCP Capital presently has an average rating of “Hold” and an average price target of $10.17.

BlackRock TCP Capital Company Profile

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.