Brokerages Expect THL Credit, Inc. (TCRD) Will Post Earnings of $0.28 Per Share
Analysts expect that THL Credit, Inc. (NASDAQ:TCRD) will report earnings of $0.28 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for THL Credit’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.30. THL Credit posted earnings of $0.34 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 17.6%. The company is expected to issue its next earnings report on Thursday, November 8th.
On average, analysts expect that THL Credit will report full-year earnings of $1.15 per share for the current year, with EPS estimates ranging from $1.12 to $1.20. For the next fiscal year, analysts anticipate that the business will post earnings of $1.11 per share, with EPS estimates ranging from $1.07 to $1.15. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover THL Credit.
THL Credit (NASDAQ:TCRD) last issued its earnings results on Wednesday, August 8th. The investment management company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.04. THL Credit had a positive return on equity of 11.15% and a negative net margin of 8.89%. The business had revenue of $18.36 million for the quarter, compared to analyst estimates of $16.92 million.
In other news, CFO Terrence W. Olson purchased 13,518 shares of the business’s stock in a transaction on Monday, July 9th. The shares were bought at an average price of $8.23 per share, with a total value of $111,253.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Terrence W. Olson purchased 56,703 shares of the business’s stock in a transaction on Wednesday, June 27th. The shares were purchased at an average cost of $7.94 per share, for a total transaction of $450,221.82. The disclosure for this purchase can be found here. Insiders have bought a total of 186,408 shares of company stock worth $1,501,696 in the last three months. Corporate insiders own 0.46% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in THL Credit during the second quarter worth approximately $163,000. Citadel Advisors LLC purchased a new position in shares of THL Credit in the 2nd quarter valued at approximately $108,000. West Family Investments Inc. grew its stake in shares of THL Credit by 8.0% in the 2nd quarter. West Family Investments Inc. now owns 729,374 shares of the investment management company’s stock valued at $5,704,000 after purchasing an additional 54,069 shares during the last quarter. Cliffwater LLC grew its stake in shares of THL Credit by 14.0% in the 2nd quarter. Cliffwater LLC now owns 145,424 shares of the investment management company’s stock valued at $1,137,000 after purchasing an additional 17,846 shares during the last quarter. Finally, Fiera Capital Corp grew its stake in shares of THL Credit by 2.5% in the 2nd quarter. Fiera Capital Corp now owns 717,358 shares of the investment management company’s stock valued at $5,610,000 after purchasing an additional 17,235 shares during the last quarter. 40.24% of the stock is currently owned by institutional investors.
Shares of NASDAQ TCRD traded down $0.05 during midday trading on Thursday, hitting $8.11. 505 shares of the company’s stock were exchanged, compared to its average volume of 173,568. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.29 and a current ratio of 0.29. THL Credit has a twelve month low of $7.70 and a twelve month high of $9.67. The firm has a market capitalization of $268.25 million, a PE ratio of 6.75 and a beta of 1.14.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 13.32%. The ex-dividend date of this dividend is Thursday, September 13th. THL Credit’s dividend payout ratio (DPR) is presently 89.26%.
THL Credit Company Profile
THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. Its objective is to generate both current income and capital appreciation, through investments in privately negotiated debt and equity securities of lower middle market companies. The company was founded on May 26, 2009 and is headquartered in Boston, MA.
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