Brokerages Set $19.13 Price Target for Tcg Bdc Inc (CGBD)
Shares of Tcg Bdc Inc (NASDAQ:CGBD) have received a consensus broker rating score of 1.25 (Strong Buy) from the four brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and three have assigned a strong buy rating to the company.
Brokerages have set a one year consensus target price of $19.13 for the company and are forecasting that the company will post $0.43 EPS for the current quarter, according to Zacks. Zacks has also assigned Tcg Bdc an industry rank of 182 out of 265 based on the ratings given to its competitors.
CGBD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Tcg Bdc in a report on Monday, July 10th. They issued an “overweight” rating and a $19.00 price target on the stock. Wells Fargo & Company initiated coverage on Tcg Bdc in a report on Monday, July 10th. They issued an “outperform” rating and a $18.50 price target on the stock. Keefe, Bruyette & Woods initiated coverage on Tcg Bdc in a report on Monday, July 10th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Bank of America Corporation initiated coverage on Tcg Bdc in a report on Monday, July 10th. They issued a “buy” rating and a $19.00 price target on the stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Tcg Bdc during the second quarter worth about $1,987,000. State of New Jersey Common Pension Fund D purchased a new stake in Tcg Bdc during the second quarter worth about $9,906,000. West Family Investments Inc. purchased a new stake in Tcg Bdc during the second quarter worth about $5,403,000. Ameriprise Financial Inc. purchased a new stake in Tcg Bdc during the second quarter worth about $6,258,000. Finally, Muzinich & Co. Inc. purchased a new stake in Tcg Bdc during the second quarter worth about $14,408,000. 1.59% of the stock is currently owned by institutional investors.
Shares of Tcg Bdc (NASDAQ CGBD) opened at 18.36 on Friday. Tcg Bdc has a 12 month low of $17.61 and a 12 month high of $22.02. The stock’s 50 day moving average price is $18.53 and its 200 day moving average price is $18.49.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Friday, September 29th will be issued a $0.37 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.48 dividend on an annualized basis and a yield of 8.06%.
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Tcg Bdc Company Profile
TCG BDC, Inc, formerly Carlyle GMS Finance, Inc, is a managed and non-diversified closed-end investment company. The Company is focused on lending to middle market companies. The Company’s investment objective is to generate current income and capital appreciation primarily through debt investments in the United States and middle market companies.
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