TriplePoint Venture Growth BDC (NYSE:TPVG) Issues Earnings Results, Misses Estimates By $0.03 EPS

TriplePoint Venture Growth BDC (NYSE:TPVG) announced its earnings results on Wednesday. The investment management company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03), Yahoo Finance reports. The company had revenue of $29.27 million for the quarter, compared to the consensus estimate of $31.25 million. TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. During the same period in the previous year, the company earned $0.53 EPS.

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE TPVG traded down $0.11 during trading hours on Friday, reaching $9.20. The stock had a trading volume of 528,967 shares, compared to its average volume of 252,944. The business’s fifty day moving average is $9.56 and its two-hundred day moving average is $10.25. The company has a market cap of $348.22 million, a price-to-earnings ratio of -8.29 and a beta of 1.75. TriplePoint Venture Growth BDC has a twelve month low of $8.88 and a twelve month high of $12.70.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 17.39%. TriplePoint Venture Growth BDC’s payout ratio is -144.14%.

Wall Street Analysts Forecast Growth

TPVG has been the subject of a number of recent analyst reports. Compass Point raised TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 target price for the company in a research report on Friday, March 22nd. StockNews.com cut TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Wells Fargo & Company decreased their target price on TriplePoint Venture Growth BDC from $11.00 to $9.50 and set an “equal weight” rating for the company in a research report on Thursday, March 7th. Piper Sandler decreased their target price on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Finally, JMP Securities reissued a “market perform” rating on shares of TriplePoint Venture Growth BDC in a research report on Thursday, March 7th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.38.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.