BlackRock TCP Capital Corp. (TCPC) To Go Ex-Dividend on September 16th

BlackRock TCP Capital Corp. (NASDAQ:TCPC) announced a quarterly dividend on Wednesday, August 7th, Zacks reports. Investors of record on Monday, September 16th will be given a dividend of 0.34 per share by the investment management company on Monday, September 30th. This represents a $1.36 annualized dividend and a dividend yield of 15.08%. The ex-dividend date of this dividend is Monday, September 16th.

BlackRock TCP Capital has increased its dividend payment by an average of 6.0% annually over the last three years. BlackRock TCP Capital has a dividend payout ratio of 85.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect BlackRock TCP Capital to earn $1.62 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 84.0%.

BlackRock TCP Capital Stock Down 1.2 %

NASDAQ TCPC traded down $0.11 during trading on Friday, reaching $9.02. 103,336 shares of the company’s stock traded hands, compared to its average volume of 444,416. BlackRock TCP Capital has a 12-month low of $8.93 and a 12-month high of $12.77. The company has a debt-to-equity ratio of 1.37, a current ratio of 19.05 and a quick ratio of 19.05. The firm has a market cap of $772.02 million, a price-to-earnings ratio of 27.26 and a beta of 1.49. The company’s 50 day simple moving average is $10.79 and its two-hundred day simple moving average is $10.70.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.39 million. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. During the same period last year, the company posted $0.48 earnings per share. As a group, sell-side analysts forecast that BlackRock TCP Capital will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TCPC shares. Oppenheimer decreased their price objective on BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a report on Thursday. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.17.

About BlackRock TCP Capital

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.