Blackrock Tcp Capital Corp. to Issue Quarterly Dividend of $0.17 (NASDAQ:TCPC)

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) announced a quarterly dividend on Friday, February 27th. Stockholders of record on Tuesday, March 17th will be paid a dividend of 0.17 per share by the investment management company on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 16.6%. The ex-dividend date of this dividend is Tuesday, March 17th.

Blackrock Tcp Capital has raised its dividend by an average of 0.0%annually over the last three years. Blackrock Tcp Capital has a dividend payout ratio of 93.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Blackrock Tcp Capital to earn $1.42 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 70.4%.

Blackrock Tcp Capital Stock Down 9.3%

Shares of NASDAQ:TCPC traded down $0.42 during midday trading on Friday, reaching $4.09. 2,963,702 shares of the company were exchanged, compared to its average volume of 954,190. The firm has a market cap of $347.00 million, a PE ratio of -31.46 and a beta of 0.89. Blackrock Tcp Capital has a fifty-two week low of $4.05 and a fifty-two week high of $8.83. The stock has a fifty day simple moving average of $5.21 and a two-hundred day simple moving average of $5.87. The company has a quick ratio of 14.55, a current ratio of 14.55 and a debt-to-equity ratio of 1.42.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its earnings results on Friday, February 27th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). Blackrock Tcp Capital had a positive return on equity of 15.27% and a negative net margin of 4.20%.The firm had revenue of $27.13 million for the quarter, compared to the consensus estimate of $46.99 million. As a group, sell-side analysts forecast that Blackrock Tcp Capital will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TCPC. Zacks Research downgraded Blackrock Tcp Capital from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Blackrock Tcp Capital in a research note on Monday, December 29th. Wells Fargo & Company lowered their price objective on shares of Blackrock Tcp Capital from $6.00 to $5.50 and set an “underweight” rating on the stock in a report on Monday, November 10th. Finally, Wall Street Zen upgraded shares of Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Blackrock Tcp Capital presently has an average rating of “Reduce” and a consensus price target of $6.50.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.