BlackRock TCP Capital Corp (TCPC) Receives $16.90 Average PT from Analysts
BlackRock TCP Capital Corp (NASDAQ:TCPC) has been given a consensus recommendation of “Buy” by the seven brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $16.90.
A number of research analysts recently issued reports on the company. BidaskClub downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Keefe, Bruyette & Woods restated a “buy” rating and set a $17.00 price target on shares of BlackRock TCP Capital in a research note on Wednesday, August 8th. National Securities restated a “buy” rating and set a $19.00 price target on shares of BlackRock TCP Capital in a research note on Monday, August 13th. JMP Securities dropped their price target on BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating on the stock in a research note on Tuesday, August 28th. Finally, Wells Fargo & Co dropped their price target on BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, October 4th.
In other news, Director Kathleen A. Corbet purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The shares were purchased at an average price of $14.36 per share, for a total transaction of $43,080.00. Following the purchase, the director now directly owns 9,000 shares of the company’s stock, valued at approximately $129,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Howard Levkowitz purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The shares were purchased at an average price of $13.89 per share, for a total transaction of $69,450.00. Following the purchase, the chief executive officer now directly owns 119,144 shares in the company, valued at $1,654,910.16. The disclosure for this purchase can be found here. Insiders have purchased a total of 19,725 shares of company stock worth $275,564 in the last 90 days. 0.55% of the stock is currently owned by company insiders.
Shares of TCPC traded down $0.33 during mid-day trading on Monday, reaching $14.01. The company’s stock had a trading volume of 16,775 shares, compared to its average volume of 351,967. BlackRock TCP Capital has a 12-month low of $13.71 and a 12-month high of $15.90. The company has a market cap of $843.04 million, a P/E ratio of 7.04, a PEG ratio of 1.80 and a beta of 0.70. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.01 and a current ratio of 2.01.
BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings data on Thursday, November 8th. The investment management company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. BlackRock TCP Capital had a return on equity of 11.56% and a net margin of 31.79%. The business had revenue of $49.48 million for the quarter, compared to the consensus estimate of $48.06 million. As a group, analysts predict that BlackRock TCP Capital will post 1.6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, December 14th. This represents a $1.44 dividend on an annualized basis and a yield of 10.28%. BlackRock TCP Capital’s dividend payout ratio is presently 72.36%.
About BlackRock TCP Capital
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.
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