THL Credit, Inc. (TCRD) Receives $10.70 Average PT from Analysts
THL Credit, Inc. (NASDAQ:TCRD) has been given a consensus rating of “Hold” by the nine research firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $10.70.
A number of analysts have recently commented on the company. Maxim Group reissued a “buy” rating and issued a $11.50 price target on shares of THL Credit in a research report on Friday, November 10th. National Securities dropped their price target on THL Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, November 13th. ValuEngine raised THL Credit from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. TheStreet cut THL Credit from a “b-” rating to a “c+” rating in a research report on Monday, October 9th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $10.50 price target on shares of THL Credit in a research report on Monday, October 16th.
Shares of THL Credit (NASDAQ TCRD) traded down $0.01 on Wednesday, hitting $9.17. The stock had a trading volume of 90,527 shares, compared to its average volume of 130,930. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.20 and a current ratio of 0.20. THL Credit has a 12-month low of $8.90 and a 12-month high of $10.60. The company has a market cap of $299.94, a PE ratio of 16.09, a P/E/G ratio of 8.45 and a beta of 1.11.
THL Credit (NASDAQ:TCRD) last issued its quarterly earnings results on Thursday, November 9th. The investment management company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.07. THL Credit had a return on equity of 10.53% and a net margin of 23.15%. The firm had revenue of $20.10 million for the quarter, compared to analysts’ expectations of $19.74 million. During the same period in the previous year, the firm posted $0.32 EPS. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. sell-side analysts forecast that THL Credit will post 1.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a $0.27 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.08 annualized dividend and a yield of 11.78%. THL Credit’s dividend payout ratio (DPR) is presently 189.48%.
A number of hedge funds have recently added to or reduced their stakes in TCRD. Legal & General Group Plc lifted its position in THL Credit by 10.8% in the 2nd quarter. Legal & General Group Plc now owns 84,155 shares of the investment management company’s stock valued at $839,000 after acquiring an additional 8,186 shares in the last quarter. JPMorgan Chase & Co. bought a new position in THL Credit in the 2nd quarter valued at approximately $105,000. LSV Asset Management bought a new position in THL Credit in the 2nd quarter valued at approximately $779,000. Private Advisor Group LLC lifted its position in THL Credit by 1.7% in the 2nd quarter. Private Advisor Group LLC now owns 49,751 shares of the investment management company’s stock valued at $495,000 after acquiring an additional 850 shares in the last quarter. Finally, CIBC World Markets Inc. bought a new position in THL Credit in the 2nd quarter valued at approximately $150,000. 43.77% of the stock is currently owned by institutional investors and hedge funds.
About THL Credit
THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of lower middle market companies.
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