Triangle Capital Corporation (TCAP) Receives Average Recommendation of “Hold” from Brokerages
Shares of Triangle Capital Corporation (NYSE:TCAP) have received an average rating of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $18.36.
A number of analysts recently weighed in on the stock. Aegis assumed coverage on shares of Triangle Capital Corporation in a research note on Monday, June 26th. They set a “buy” rating for the company. Hilliard Lyons upgraded shares of Triangle Capital Corporation from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Monday, June 26th. ValuEngine cut shares of Triangle Capital Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. BidaskClub cut shares of Triangle Capital Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Zacks Investment Research cut shares of Triangle Capital Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th.
Triangle Capital Corporation (TCAP) opened at 14.28 on Friday. Triangle Capital Corporation has a 52-week low of $12.84 and a 52-week high of $20.35. The firm has a market capitalization of $681.80 million, a P/E ratio of 29.69 and a beta of 0.92. The company’s 50-day moving average is $13.92 and its 200-day moving average is $17.08.
Triangle Capital Corporation (NYSE:TCAP) last issued its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.01). The business had revenue of $31.20 million for the quarter, compared to analyst estimates of $33.25 million. Triangle Capital Corporation had a return on equity of 10.51% and a net margin of 16.92%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. On average, analysts predict that Triangle Capital Corporation will post $1.67 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 12.61%. The ex-dividend date of this dividend was Friday, September 1st. Triangle Capital Corporation’s dividend payout ratio (DPR) is presently 346.16%.
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Hedge funds have recently added to or reduced their stakes in the company. IHT Wealth Management LLC lifted its stake in shares of Triangle Capital Corporation by 11.4% in the 2nd quarter. IHT Wealth Management LLC now owns 2,450 shares of the credit services provider’s stock worth $249,000 after acquiring an additional 250 shares during the period. WFG Advisors LP acquired a new stake in shares of Triangle Capital Corporation in the 2nd quarter worth $101,000. Sigma Planning Corp acquired a new stake in shares of Triangle Capital Corporation in the 2nd quarter worth $181,000. Wasatch Advisors Inc. acquired a new stake in shares of Triangle Capital Corporation in the 2nd quarter worth $235,000. Finally, Trust Co. of Vermont lifted its stake in shares of Triangle Capital Corporation by 139.9% in the 2nd quarter. Trust Co. of Vermont now owns 13,342 shares of the credit services provider’s stock worth $235,000 after acquiring an additional 7,781 shares during the period. Institutional investors own 31.36% of the company’s stock.
Triangle Capital Corporation Company Profile
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
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