Zacks: TCG BDC, Inc. (CGBD) Given $19.25 Average Price Target by Brokerages
Shares of TCG BDC, Inc. (NASDAQ:CGBD) have been assigned an average broker rating score of 1.25 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and three have given a strong buy rating to the company.
Brokers have set a 12-month consensus price target of $19.25 for the company, according to Zacks. Zacks has also assigned TCG BDC an industry rank of 126 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have issued reports on CGBD shares. Zacks Investment Research lowered shares of TCG BDC from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $20.00 price objective on shares of TCG BDC in a report on Friday, October 6th.
Shares of TCG BDC (CGBD) opened at $18.59 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.89 and a quick ratio of 0.89. TCG BDC has a fifty-two week low of $17.61 and a fifty-two week high of $19.25.
TCG BDC (NASDAQ:CGBD) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. TCG BDC had a net margin of 50.18% and a return on equity of 8.82%. The business had revenue of $42.65 million during the quarter, compared to analyst estimates of $43.50 million. equities analysts expect that TCG BDC will post 1.7 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 7.96%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Susquehanna International Group LLP bought a new position in shares of TCG BDC during the 2nd quarter valued at approximately $200,000. Kayne Anderson Capital Advisors LP bought a new position in shares of TCG BDC during the 3rd quarter valued at approximately $225,000. Wells Fargo & Company MN boosted its position in shares of TCG BDC by 508.3% during the 3rd quarter. Wells Fargo & Company MN now owns 14,295 shares of the company’s stock valued at $269,000 after acquiring an additional 11,945 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in shares of TCG BDC during the 2nd quarter valued at approximately $571,000. Finally, Mckinley Capital Management LLC Delaware boosted its position in shares of TCG BDC by 21,632.5% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 63,459 shares of the company’s stock valued at $1,194,000 after acquiring an additional 63,167 shares during the last quarter. Hedge funds and other institutional investors own 8.83% of the company’s stock.
About TCG BDC
TCG BDC, Inc, formerly Carlyle GMS Finance, Inc, is a managed and non-diversified closed-end investment company. The Company is focused on lending to middle market companies. The Company’s investment objective is to generate current income and capital appreciation primarily through debt investments in the United States and middle market companies.
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