BlackRock TCP Capital (NASDAQ:TCPC) Announces Earnings Results

BlackRock TCP Capital (NASDAQ:TCPC) announced its quarterly earnings data on Wednesday. The investment management company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45, Zacks reports. BlackRock TCP Capital had a net margin of 18.38% and a return on equity of 14.59%. The firm had revenue of $55.73 million for the quarter, compared to analysts’ expectations of $50.99 million. During the same period last year, the firm earned $0.44 earnings per share.

BlackRock TCP Capital Stock Performance

TCPC traded down $0.02 during midday trading on Thursday, hitting $10.40. 326,670 shares of the company traded hands, compared to its average volume of 476,238. The company has a quick ratio of 30.47, a current ratio of 30.47 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $600.81 million, a PE ratio of 15.91 and a beta of 1.42. The company’s 50-day moving average is $10.34 and its 200 day moving average is $11.06. BlackRock TCP Capital has a 52 week low of $9.80 and a 52 week high of $13.00.

BlackRock TCP Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 14th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 13.08%. The ex-dividend date was Wednesday, March 13th. BlackRock TCP Capital’s payout ratio is 206.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Raymond James cut shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, March 1st. Wells Fargo & Company boosted their price objective on shares of BlackRock TCP Capital from $11.00 to $11.50 and gave the company an “equal weight” rating in a report on Monday, January 29th. JMP Securities reiterated a “market perform” rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Oppenheimer decreased their price target on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a research report on Friday, March 22nd. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.00.

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.