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

BlackRock TCP Capital (NASDAQ:TCPC) issued its quarterly earnings results on Thursday. The investment management company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38, Zacks reports. BlackRock TCP Capital had a positive return on equity of 14.16% and a negative net margin of 15.22%.

BlackRock TCP Capital Trading Down 9.6 %

NASDAQ:TCPC traded down $0.90 during mid-day trading on Thursday, hitting $8.44. The company had a trading volume of 1,952,371 shares, compared to its average volume of 530,808. BlackRock TCP Capital has a fifty-two week low of $7.71 and a fifty-two week high of $11.52. The business’s fifty day moving average is $8.97 and its two-hundred day moving average is $8.81. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The firm has a market cap of $722.39 million, a P/E ratio of -16.88 and a beta of 1.50.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TCPC. StockNews.com raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company upped their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.00.

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.