Triangle Capital (TCAP) Upgraded to “Market Perform” by UBS Group
UBS Group upgraded shares of Triangle Capital (NYSE:TCAP) from an underperform rating to a market perform rating in a report published on Thursday, The Fly reports.
Several other brokerages have also issued reports on TCAP. ValuEngine upgraded shares of Triangle Capital from a hold rating to a buy rating in a research note on Monday, October 2nd. Keefe, Bruyette & Woods set a $18.00 price objective on shares of Triangle Capital and gave the company a hold rating in a research note on Thursday, October 5th. Raymond James Financial reiterated an underperform rating on shares of Triangle Capital in a research note on Tuesday, October 17th. Zacks Investment Research upgraded shares of Triangle Capital from a sell rating to a hold rating in a research note on Wednesday, October 11th. Finally, National Securities reduced their price objective on shares of Triangle Capital from $18.00 to $16.00 and set a neutral rating for the company in a research note on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Triangle Capital has an average rating of Hold and an average target price of $16.00.
Shares of Triangle Capital (NYSE:TCAP) traded up $0.27 during mid-day trading on Thursday, hitting $10.16. 606,125 shares of the stock traded hands, compared to its average volume of 643,391. The company has a debt-to-equity ratio of 0.87, a quick ratio of 56.98 and a current ratio of 56.98. Triangle Capital has a 12 month low of $8.91 and a 12 month high of $20.35. The stock has a market cap of $485.05, a price-to-earnings ratio of -11.29, a P/E/G ratio of 1.48 and a beta of 0.82.
Triangle Capital (NYSE:TCAP) last issued its quarterly earnings results on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.05). Triangle Capital had a positive return on equity of 10.67% and a negative net margin of 36.80%. The company had revenue of $29.88 million for the quarter, compared to analysts’ expectations of $32.84 million. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. equities research analysts anticipate that Triangle Capital will post 1.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $1.20 dividend on an annualized basis and a yield of 11.81%. Triangle Capital’s dividend payout ratio is -133.33%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Triangle Capital by 32.4% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 410,008 shares of the credit services provider’s stock valued at $5,854,000 after purchasing an additional 100,378 shares during the period. Ares Management LLC boosted its holdings in Triangle Capital by 26.1% in the 2nd quarter. Ares Management LLC now owns 405,456 shares of the credit services provider’s stock valued at $714,413,000 after purchasing an additional 83,876 shares during the period. Shell Asset Management Co. bought a new position in Triangle Capital in the 3rd quarter valued at $1,941,000. Armor Investment Advisors LLC boosted its holdings in Triangle Capital by 6.9% in the 3rd quarter. Armor Investment Advisors LLC now owns 163,002 shares of the credit services provider’s stock valued at $2,328,000 after purchasing an additional 10,510 shares during the period. Finally, Ramsey Quantitative Systems bought a new position in Triangle Capital in the 2nd quarter valued at $282,000. Institutional investors and hedge funds own 35.15% of the company’s stock.
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About Triangle Capital
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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