TICC Capital Corp. (TICC) Releases Earnings Results, Misses Estimates By $0.03 EPS
TICC Capital Corp. (NASDAQ:TICC) issued its earnings results on Thursday. The investment management company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03), Briefing.com reports. The firm had revenue of $14.50 million during the quarter, compared to analyst estimates of $15.97 million. TICC Capital Corp. had a net margin of 94.98% and a return on equity of 7.62%. The business’s revenue for the quarter was down 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 earnings per share.
TICC Capital Corp. (NASDAQ:TICC) opened at $5.36 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market cap of $279.02, a PE ratio of 9.51, a PEG ratio of 1.76 and a beta of 0.66.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 14.93%. The ex-dividend date of this dividend is Thursday, December 14th. TICC Capital Corp.’s payout ratio is presently 68.38%.
A number of brokerages recently commented on TICC. ValuEngine lowered TICC Capital Corp. from a “buy” rating to a “hold” rating in a research note on Thursday. TheStreet upgraded TICC Capital Corp. from a “c+” rating to a “b” rating in a research note on Thursday, September 7th. National Securities reiterated a “sell” rating and set a $6.00 price objective on shares of TICC Capital Corp. in a research note on Monday, August 14th. BidaskClub lowered TICC Capital Corp. from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research lowered TICC Capital Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock currently has an average rating of “Sell” and a consensus price target of $6.00.
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In other news, CEO Jonathan H. Cohen purchased 5,077 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were acquired at an average price of $6.67 per share, for a total transaction of $33,863.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Saul B. Rosenthal purchased 9,682 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average price of $6.68 per share, for a total transaction of $64,675.76. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 63,371 shares of company stock worth $422,090. 5.90% of the stock is owned by company insiders.
TICC Capital Corp. Company Profile
TICC Capital Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its portfolio’s total return. The Company primarily focuses on seeking current income by investing primarily in corporate debt securities. The Company’s debt investments may include syndicated loans and bilateral loans.
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